Evernorth, the company behind the XRP-backed treasury, has added Robert Kaiden, CFO of OpenAI, and Derar Islim, COO of Antalpha, to its board of directors. This announcement, made in an updated filing with the Securities and Exchange Commission, brings valuable experience in artificial intelligence and institutional finance to Evernorth as it prepares to be listed on Nasdaq under the symbol XRPN.
Summary
- The Evernorth XRP board now includes Robert Kaiden (OpenAI Foundation CFO), Derar Islim (Antalpha COO), Ted Janus, and Ripple CLO Stuart Alderoty, creating a governance structure that bridges AI, crypto, and traditional finance.
- Evernorth has raised over $1 billion in gross proceeds from investors including Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital, with Ripple Labs contributing 126.79 million XRP directly.
- The company currently holds over 473 million XRP in treasury, valued at approximately $656 million, and plans to become the largest publicly traded XRP treasury company on Nasdaq.
Evernorth XRP, a company managing a treasury of XRP, has updated its filings with the Securities and Exchange Commission (SEC). As reported by CoinGape, they’ve appointed Robert Kaiden, CFO of OpenAI Foundation, and Derar Islim, COO of publicly traded Antalpha, to its board of directors. These appointments fulfill Nasdaq requirements for independent directors and bring valuable experience in financial auditing, oversight, and leadership in the digital asset space. Evernorth XRP is structured to hold XRP as its primary asset, much like Strategy holds Bitcoin.
Evernorth officially revealed its business plan, team, and strategy on March 18, 2026, through a filing with the SEC, as reported by crypto.news. The company is going public by merging with Armada Acquisition Corp II, a special purpose acquisition company backed by Arrington Capital, and will trade under the ticker XRPN. Ripple’s Chief Legal Officer, Stuart Alderoty, will join the board, ensuring Ripple’s continued involvement, after the company committed $126.79 million in XRP to support the deal. Asheesh Birla, a veteran Ripple executive, will lead the newly combined company. As crypto.news previously reported, the company raised $1 billion, including a significant $200 million investment from SBI Holdings, making it one of the largest funding rounds for an XRP-focused company before going public. This move comes at a good time, with increasing institutional interest in XRP – including a $153.8 million XRP ETF position by Goldman Sachs and a commodity trust filing with the NYSE Arca – creating a favorable environment for Evernorth’s public debut, as tracked by crypto.news.
As a crypto investor, I’m really intrigued by Kaiden’s appointment. It’s not just a random hire – it’s a clear signal that Evernorth is thinking long-term about how XRP and AI can work together. Having someone on the OpenAI Foundation board gives Evernorth a front-row seat to how AI is being developed and funded. This tells me they’re planning to build XRP-based settlement solutions for the growing world of AI-powered finance. Basically, they’re aiming to make XRP a key part of how money moves in the AI space, and that’s a big opportunity.
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2026-05-01 01:45