The CEO of Evernorth, the largest public $XRP treasury company, believes $XRP’s biggest advantage goes beyond technology.
Speaking on a recent podcast, Asheesh Birla said Ripple’s long-standing relationships with financial institutions and regulators could help drive institutional adoption of $XRP. He argued that these connections are creating the “connective tissue” between blockchain and traditional finance.
Birla also suggested Evernorth could pursue another fundraising round to increase its $XRP holdings.
$XRP Needs More Than Technology
Discussing $XRP’s role among institutional blockchain networks such as Canton Network, Birla said critics once labeled $XRP the “bank chain.”
However, he argued that working with financial institutions is necessary for blockchain to reshape global finance.
According to Birla, three ingredients are needed for mainstream blockchain adoption: strong technology, real-world connections, and regulatory clarity.
He described $XRP as an efficient network for moving tokenized value. He also noted that the $XRP Ledger includes a built-in decentralized exchange, a feature many investors still overlook.
Birla added that tokenization activity on the $XRP Ledger is growing. He pointed to stablecoin adoption and partnerships with firms such as Franklin Templeton as signs of momentum.
Ripple’s Infrastructure Gives $XRP an Advantage
Birla emphasized that Ripple spent years securing licenses and integrating with financial institutions around the world. In his view, that work creates a significant competitive advantage.
He argued that technology alone does not determine success. Birla estimates technology accounts for about 25% of the equation. Real-world financial connections make up roughly 50%, while regulation and market adoption account for the rest.
“The plumbing that Ripple laid over the years of connecting into financial institutions… that is creating this connective tissue to the real world,” Birla said.
He added that $XRP is uniquely positioned at the intersection of tokenized assets, financial infrastructure, and cross-market value transfer.
$XRP vs. Ethereum and Canton
Birla also compared $XRP with other blockchain ecosystems. He described Ethereum as a hub for innovation and experimentation. However, he questioned whether it has developed the scale and institutional focus needed to transform global financial markets.
Regarding the Canton Network, Birla said institutional participation alone is not enough. Successful blockchain ecosystems, he argued, require a mix of retail users, developers, and institutions.
According to Birla, $XRP is currently the only blockchain that combines all three groups.
Evernorth May Raise More Capital
Birla also hinted that Evernorth could pursue another fundraising round. The additional capital could be used to expand the company’s $XRP exposure. In his words:
“As there become opportunities, we’ll go back out to one of the most liquid markets in the world, the capital markets, the equity markets, and do another potential fundraise to get out there and put more of that to work.”
