Ripple CTO David Schwartz Addresses Role in $1 Billion XRP Treasury Venture Evernorth

Ripple’s Chief Technology Officer, David Schwartz, has addressed mounting speculation surrounding his involvement with Evernorth, a newly established XRP-focused treasury firm that plans to raise over $1 billion through a Nasdaq listing. The project, formed via a merger with Armada Acquisition Corp II, aims to function similarly to corporate bitcoin treasuries—strategically acquiring XRP from the open market and holding it as a long-term asset to stabilize liquidity and market value.

Evernorth has quickly captured attention across the crypto industry due to its ambitious scale and strong alignment with the XRP ecosystem. Its goal is to strengthen XRP’s market presence by providing a structured investment vehicle dedicated exclusively to the cryptocurrency. The initiative comes amid renewed interest in XRP’s utility and long-term price potential, as institutions explore new ways to gain exposure to blockchain-based financial instruments.

Following the announcement, reports surfaced suggesting Schwartz would “join” the venture. However, the Ripple CTO swiftly clarified his position, confirming that his role would be strictly advisory and limited in duration. Schwartz emphasized that his involvement does not extend beyond offering short-term strategic insight and that he remains fully committed to his responsibilities at Ripple. “My advisory work with Evernorth will be temporary and won’t interfere with my duties at Ripple,” he stated, addressing concerns about potential conflicts of interest.

The clarification helped quell speculation while reinforcing Ripple’s ongoing focus on innovation within the XRP Ledger ecosystem. As Evernorth moves forward with its billion-dollar fundraising ambitions, the market will closely watch how its strategy influences XRP’s liquidity and long-term adoption.