Evernorth, a venture founded by former Ripple executive Asheesh Birla, has amassed nearly $1 billion in XRP holdings, as announced at Ripple Swell 2025. The company, which operates on the XRP Ledger, aims to integrate traditional finance with decentralized finance (DeFi) through a regulated digital asset treasury. Birla emphasized Evernorth's commitment to institutional adoption, focusing on compliance and risk management. Evernorth's recent acquisition of $214 million in XRP has increased its total holdings to over 473 million tokens. This strategic move underscores the company's dedication to expanding its influence in the digital asset space, particularly among institutional investors.