XRP Treasury Firm Evernorth Secures $30 Million in Debt Financing Round

Evernorth, an XRP treasury firm, has raised $30 million from NH Investment in a debt financing round. The funds will be used to purchase more XRP, extending its strategy of accumulating and holding the asset on its balance sheet.

This approach mirrors the bitcoin treasury company model popularized over the past two years but applied to Ripple's native token, XRP, which runs on the XRP Ledger.

Treasury companies raise capital through equity or debt offerings specifically to accumulate a single crypto asset and hold it on their balance sheet. They bet that the long-term price appreciation of the asset will outpace the cost of the capital raised.

Evernorth's XRP-focused strategy arrives at a moment when XRP has drawn renewed institutional interest, partly due to Ripple's efforts to expand its use in payments and settlement infrastructure.