Ripple-backed treasury firm Evernode has completed trademark registration in the Cayman Islands, speeding up an expansion of its institutional XRP treasury business.

On July 6, blockchain outlet The Crypto Basic reported that the Evernode trademark was publicly registered in the Cayman Islands, a step seen as progress in the company’s XRP digital asset treasury business.

The trademark application was handled by Cayman-based intellectual property specialist HSM IP. According to the Cayman Islands Gazette, Evernode’s word mark is registered under No. T0004840 in classes 36 and 42, covering financial services and technology services.

Class 36 includes the design and management of digital asset portfolios, financial advice and consulting related to digital assets, digital asset treasury management, custody solutions, and provision of investment strategy information for listed investment funds. Class 42 focuses on the supporting technology infrastructure. It covers software-as-a-service-based blockchain validation, digital asset portfolio management software, electronic payment processing, authentication software, digital asset storage, and electronic data storage solutions.

The trademark is valid until April 1, 2036. Evernode has secured legal protection for the brand and related services for about the next 10 years.

The registration is also linked to Evernode’s corporate structure. The XRP digital asset treasury business is pursuing a business combination with Cayman-incorporated special purpose acquisition company Armada Acquisition Corp II. The Cayman Islands is often used by global investment vehicles because of tax neutrality, asset protection frameworks, and the efficiency of intellectual property rights and global licensing operations.

As a result, the trademark registration is seen as a step that strengthens the legal foundation supporting Evernode’s institutional XRP treasury strategy. The company currently holds about 473 million XRP and is classified as a large XRP holder among companies.

Evernode is also pursuing a strategy to increase its reserves rather than simply holding XRP. It is seeking additional returns on its holdings through institutional lending, liquidity provision and participation in decentralised finance yield opportunities. The inclusion of digital asset portfolio management and treasury operations, custody solutions and investment strategy information provision in the trademark scope aligns with this operating direction.

The company is also working toward an initial public offering. Evernode has filed multiple amended S-4 registration statements with a goal of listing on Nasdaq, and is pursuing XRPN as its ticker if it lists. If the listing is completed, institutional investors will be able to gain exposure to XRP within a regulated structure.

Management strengthening is also under way. Evernode appointed 4 new directors, including Stuart Alderoty (스튜어트 알데로티), Ripple’s chief legal officer. The company continues to strengthen its links to the XRP ecosystem while fleshing out a long-term institutional strategy.