XRP News: Brad Garlinghouse Explains Why Ripple Provides XRP to Evernorth
Ripple CEO Brad Garlinghouse explained why the company invested a large amount of XRP in Evernorth. Evernorth is a XRP reserve company that recently made its debut on NASDAQ. On the day of its listing, Garlinghouse stated during a speech on NASDAQ that this move was in line with Ripple's long-term practice of investing in its own ecosystem, and his trust in the management of Evernorth ultimately led to this decision.
Ripple Why Does It Support Evernorth
When asked why Ripple invested its tokens in Evernorth, Garlinghouse stated that supporting the community has “in fact, been part of the Ripple strategy since the very beginning of the company.” He also added that this support sometimes even goes beyond XRP itself, as Ripple believes in a “multi-chain world.”
He said that in the end, it was Evernorth CEO Asheesh Birla who played a decisive role. Birla had previously held a position at Ripple, reporting to Garlinghouse, and later also served as a member of the board of directors at Ripple. Garlinghouse said, "When Asheesh raised his hand to express interest, that strengthened our alignment of interests for me."
He described Birla as "an extraordinary leader," who has demonstrated "unique sensitivity in terms of talent and strategy" both during the Ripple period and now in Evernorth.
How does this help XRP?
Garlinghouse indicates that the listing of Evernorth will strengthen the XRP ecosystem in three aspects:
- Liquidity and Trust:He said that going public "increased liquidity" and also enhanced "trust in the XRP ecosystem."
- New Investors:A listed company is enabling those who cannot directly enter the crypto market to also access XRP. “Just that alone is a major step forward,” he said.
- It's not just about buying and holding:Evernorth plans to utilize on-chain and off-chain strategies to generate profits and develop institutional products. He stated that this will "put XRP in a very advantageous position."
He also explained how difficult it has been to reach this point today. “There have been hundreds of different DAT trying to go public,” he said, referring to digital asset reserve companies here. “The fact that we can stand here today and see XRP being traded is a major accomplishment.”
“Ripple has seen this a long time ago”
Garlinghouse reflected on Ripple's years of experience as an "outsider" in the crypto industry. Many early crypto users held strong anti-establishment views, while Ripple faced criticism for building its business targeting banks and traditional finance.
For many years, Ripple has been a controversial counter-trend player, as we targeted traditional finance as our core customer base. However, now the market perspective has changed. "Many other players in the industry have realized that perhaps Ripple was indeed onto something from the beginning."
The tough times are not over yet.
Garlinghouse has not announced victory yet. “I’m not ready to say that the difficult times have passed yet,” he said.
However, he believes that the market has underestimated the changes that are taking place in the United States. He stated that the U.S. accounts for about 22% of the global GDP, and has been "gradually withdrawing" from the crypto sector over the years. Now, American institutions are "entering at an unprecedented pace."
