Evernorth CEO Explains Why XRP Is The Backbone For Finance

image

Source: CoinEdition Original Title: Evernorth CEO Explains Why XRP Is The Backbone For Finance Original Link: Asheesh Birla, CEO of Evernorth, discussed how XRP is now seen more as a foundational technology for banks and businesses, and less as a speculative digital asset. Birla states that crypto has grown out of its early days of being like a casino, driven by hype and quick trades.

He points out three main changes that are moving this shift: clearer rules, institutional-grade infrastructure, and institutional capital. Birla believes that these changes together create the right environment for crypto to be used as a reliable part of the financial system, not just as something to trade for quick profits.

Why XRP is Well-Suited for Institutional Finance

Unlike many cryptos that evolved organically from retail use, XRP was built from the ground up for business payments, market-making, and moving money across borders. Its network, the XRP Ledger, includes built-in tools like a fast trading system, quick finality, and very low fees—all features that matter to big financial players.

Additionally, XRP’s legal status is now clearer in the United States. This greatly reduces the regulatory gray area that used to scare off companies and large banks from using it.

Evernorth’s Strategy

Birla pointed out how Evernorth’s strategy differs from typical crypto treasury plans. While some companies borrow money to buy and hold assets like Bitcoin, Evernorth’s goal is to use its capital actively and:

  • Support the growth of new apps and services on the XRP network
  • Participate in XRP’s DeFi in a safe, regulated way suitable for large firms
  • Earn a return on its investment rather than just waiting for the price to go up

One of the more compelling themes from the discussion is programmable corporate treasury management. Birla gave examples of companies using blockchain to automate tasks like converting currencies, paying employees, and managing cash—making things faster, cheaper, and less reliant on manual work.

XRP-0.62%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)