Evernode has set out a vision calling for companies to shift how they use XRP from simple holdings to on-chain management. It argues that rather than only holding XRP on corporate balance sheets, companies should use decentralised finance functions on the XRP Ledger (XRPL) to generate returns and treat XRP as a “productive asset.”

On Aug. 5, blockchain outlet Decrypt reported that Evernode Chief Executive Officer Ashish Birla (아시시 벌라) said at the “WebX 2026” event in Japan that companies should view XRP not as a passive asset held in reserve but as an operating asset managed on-chain to generate returns.

Birla stressed that digital-asset treasury strategies should evolve beyond simple accumulation to real-world use. “We put meaning in being an active agent rather than a passive means,” he said. He explained that the company is building a structure that lets firms earn returns from assets they hold by using DeFi tools on the XRP Ledger.

The strategy also connects with the expansion of the real-world asset (RWA) market. Birla forecast that companies will increasingly look for ways to generate additional returns by managing tokenised assets rather than simply holding them. He assessed the XRP Ledger as suitable infrastructure for implementing such financial structures.

Evernode also said it differs from existing models as concerns grow about corporate digital-asset treasury strategies amid a recent cryptocurrency market downturn. “We are not a company that simply stacks up cryptocurrency,” Birla said. “We are focusing on increasing real use on-chain rather than expanding holdings.”

He also pointed to growth in the XRP Ledger ecosystem. Birla said tokenised real-world assets on the XRP Ledger total about $3.6 billion, up about 24 times from a year earlier. He added that since Ripple launched its dollar-pegged stablecoin RLUSD, transaction volumes using dollars and RLUSD have risen 12-fold, significantly expanding financial activity on the XRP Ledger.

He also cited RLUSD as a key driver of XRP Ledger growth. Birla said about 54.74 percent of RLUSD supply is currently circulating on the XRP Ledger, with the rest issued on the Ethereum network. He said a compliant dollar-based stablecoin would become a core foundation of the tokenised finance market, and forecast that more financial activity will move to the XRP Ledger over time.

Birla proposed a phased blockchain adoption strategy for Japanese companies. He said firms can start with a digital-asset treasury strategy and then expand to broader uses such as tokenisation and on-chain finance. Birla stressed that because XRP is an asset designed for financial use, it can be a suitable starting point for companies seeking to enter blockchain-based capital markets. He cited SBI Holdings’ early investment in Ripple, adding that firms can develop from investment exposure to real-world use.

Evernode has raised more than $1 billion so far, including $200 million from SBI Holdings. Birla described it as a key partnership for expanding in Japan. The company also said it recently filed an updated S-4 document with the U.S. Securities and Exchange Commission (SEC) and that it is continuing the process toward a Nasdaq listing through a merger with special purpose acquisition company Armada Acquisition Corp II.

Birla said that once the listing is completed, investors will be able to invest in the growth of blockchain finance through traditional stock markets without having to directly hold or manage XRP. Evernode said it aims to expand its yield-focused management strategy from XRP to a range of tokenised assets, boosting on-chain asset productivity for companies and institutions.