SAN FRANCISCO, CA – January 9, 2026 — Evernorth, an XRP-focused digital asset treasury firm backed by Ripple and SBI Holdings, and Doppler Finance (“Doppler”), an XRPfi infrastructure provider, have formed a strategic relationship to evaluate a potential collaboration supporting the XRP Ledger (“XRPL”). The discussions include the design and pilot testing of institutional liquidity and treasury-oriented use cases on XRPL.
The relationship signals a closer connection between one of the largest publicly listed XRP treasury companies and a key onchain infrastructure provider, setting the stage for stronger alignment between traditional finance and XRPL-native financial systems.
As part of the initiative, Evernorth and Doppler are assessing programs aimed at expanding institutional participation within the XRPL ecosystem. Key areas of focus include structured liquidity deployment, potential treasury management frameworks, and long-term ecosystem development to ensure durability and scalability.
Under the relationship, the two parties are examining institutional liquidity deployment models that could support treasury operations on XRPL. This may include evaluating onchain products and mechanisms designed to deploy XRP capital at scale. With Doppler’s institutional-grade architecture, the collaboration envisions structured involvement from institutional participants while building the commercial, operational, and technical foundations necessary for sustainable, long-term activity.
In addition to liquidity and infrastructure, the partnership includes coordinated external communications and market initiatives, such as joint announcements, publications, and in-person events. At the same time, Evernorth and Doppler plan to pursue global market expansion efforts that target both institutional and retail audiences, with the goal of accelerating adoption and strengthening trust in XRPL-native financial infrastructure.
The collaboration underscores a shared vision of positioning XRP as a core asset within an institutionally compatible onchain ecosystem—bridging traditional financial expectations with modern blockchain infrastructure.
“The next stage of XRPL adoption will come from institutions that require clear structure, defined standards, and measurable real-world value,” said Asheesh Birla, CEO of Evernorth. “By working with Doppler, we’re building practical frameworks for deploying institutional XRP liquidity onchain and raising the bar for how XRP can be utilized, managed, and scaled across global markets.”
“Partnering with Evernorth is an important step toward expanding institutional participation on the XRP Ledger,” said Rox, Head of Institutions at Doppler Finance. “Through the combination of institutional liquidity, robust infrastructure, and disciplined risk management, we aim to help unlock XRP’s potential as a scalable, yield-generating asset for global markets.”
About Evernorth
Following the completion of its newly announced Business Combination Agreement with Armada II, Evernorth is expected to become a publicly listed digital asset treasury company, offering investors regulated, liquid, and transparent exposure to XRP.
Unlike traditional ETFs, Evernorth plans to actively increase XRP per share by combining institutional and DeFi yield strategies, broader ecosystem involvement, and selected capital markets initiatives.
For additional details, including important forward-looking statement disclosures and further information, please visit: https://www.evernorth.xyz/press-release-10-20-2025
About Doppler Finance
Doppler Finance is driving the evolution of XRPfi by building institutional-grade yield infrastructure directly on the XRP Ledger. The platform brings together regulated custody, fully audited reserves, and carefully selected yield strategies that prioritize security and scalability.
Doppler’s mission is based on a simple belief: XRP should generate yield just like other major assets. By delivering greater transparency, control, and credibility, Doppler is turning that vision into a practical solution for the market.
Today, Doppler powers institutional yield infrastructure that is being adopted by institutions and integrated by leading exchanges and wallet providers.
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