XRP Ledger Activity Surges, Banks Seen as Next Growth Driver
San Francisco, CA – June 3, 2026 – Evernorth, a treasury company focused on XRP, reports a significant surge in daily activity on the XRP Ledger, reaching nearly 3 million transactions. This marks a substantial increase from approximately 1 million transactions in mid-2025. The firm now anticipates that banks and other financial institutions will be the primary source of future demand for the network.
Real Financial Institutions Engaging with XRP Ledger
According to Evernorth, prominent participants on the XRP Ledger over the past year have included Bitstamp, Ripple’s RLUSD stablecoin, and Braza Bank. The company asserts that this level of network traffic indicates more than just speculative trading interest, suggesting genuine financial activity is occurring on the ledger.
Asheesh Birla, Evernorth’s chief executive, has previously argued that XRP’s long-term value will stem from its utility for banks and businesses as working capital, rather than its role as a tradable asset. He has also noted a persistent gap between adoption and price, even as usage and tokenization metrics continue to break records. Birla has attributed XRP’s lagging price performance, despite its growth story, to broader macroeconomic pressures, geopolitical tensions, and rising interest rates. This highlights a scenario where network activity can be robust even as the token’s price faces headwinds.
In a recent social media post, Evernorth stated, “For everyone who’s wondered when ‘real banks’ will use blockchain: they already are. The next 18 months will be about how much, on which chains, and under which set of rules. One of Europe’s biggest banks has put its euro stablecoin on XRP. Here’s why that matters.”
Evernorth’s Strategy for Institutional Adoption
Evernorth is working to facilitate institutional access to this growing ecosystem. Rather than requiring banks and asset managers to manage their own wallets, private keys, and compliance systems, the company offers exposure through its own stock. This approach mirrors that of several publicly traded companies that have amassed significant Bitcoin holdings and provided investors with a familiar market wrapper. Evernorth believes this model simplifies XRP’s accessibility for institutions in terms of holding, funding, and utilization.
Another post from Evernorth emphasized the significance of institutional choices: “When a globally important bank picks public blockchains to host its regulated euro, that’s a vote about which networks they think will host the next phase of money. XRP was one of four chains that made that shortlist.”
The company has announced backing from Ripple, Kraken, Pantera Capital, and SBI Holdings, with total funding exceeding $1 billion. Its S-4 filing with the U.S. Securities and Exchange Commission, submitted in March 2026, outlines plans to increase XRP holdings through institutional lending, liquidity provision, and activities within the decentralized finance sector on the XRP Ledger.
Evernorth Prepares for Public Listing
Evernorth, a Ripple-backed XRP treasury firm, has filed updated SEC documents as it progresses toward a Nasdaq debut. The company plans to go public through a merger with Armada Acquisition Corp II. It currently holds over 473 million XRP.
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