Evernode, an XRP treasury company, said core infrastructure of the global financial system remains stuck on decades-old technology, and predicted financial services could shift toward being built directly on blockchain networks rather than through upgrades to existing banking networks.

On May 27, blockchain media outlet The Crypto Basic introduced Evernode's comments, citing remarks by its chief operating officer, Meg Nakamura (메그 나카무라), at Web Summit Vancouver.

Evernode said many systems connecting major banks were built on structures designed 30 to 60 years ago. It said such infrastructure does not match the speed of the modern internet. Photos and videos can be shared instantly anywhere in the world, but cross-border money transfers are still often slow and inefficient, it said.

Nakamura predicted the financial industry could soon hit an important turning point. He said that instead of continuing to patch aging banking systems, developers could begin building financial applications directly on blockchain networks. This is seen as meaning the foundation on which financial services operate could change, beyond incremental improvements to existing financial infrastructure.

Evernode also assessed that XRP's range of uses is expanding. It said XRP is extending beyond cross-border payments into lending, tokenised vaults and decentralised finance (DeFi). It stressed that the XRP Ledger could become foundational infrastructure for a range of financial services, beyond a simple remittance network.

The company also presented a combination of blockchain and artificial intelligence (AI) as a key pillar of the next wave of financial innovation. It said using the two technologies together could create new opportunities for the financial industry, but risks could grow if AI systems operate quickly without sufficient safeguards. It stressed that future financial innovation should use blockchain and AI together, but be carried out on the premise of compliance and safety standards.

The remarks came after Evernode said it would shift to becoming an XRP treasury company based on public markets. Evernode Holdings filed merger-related documents with the U.S. Securities and Exchange Commission in March 2026 for a deal with Armada Acquisition Corp II. They are backed by Arrington Capital.

Evernode also said it plans to incorporate XRP into its corporate treasury strategy and set up a structure that allows investors to gain XRP exposure in a regulated way in public markets. It said it raised more than $1 billion for this, with Ripple, SBI Holdings, Pantera Capital and Kraken named among supporters.

The key points to watch will be whether regulators and shareholders approve. Evernode plans to begin trading on Nasdaq under the ticker symbol 'XRPN' if it clears the approval process. If the listing goes ahead, attention will focus on what demand the market shows for a public-company model that puts XRP at the centre of corporate treasury assets.

1/5 Our COO Meg Nakamura at Web Summit Vancouver on why most of finance is still running on rails the world has outgrown — and where the next stack actually gets built. Four moments from the talk worth your time This content is for informational purposes only and does not…