Yoshitaka Kitao, CEO of SBI Group, has drawn attention to an XRP-focused initiative he believes will be of interest.
Speaking during a recent shareholder presentation, Kitao outlined SBI Group’s involvement in the Evernorth XRP treasury, describing it as a strategic investment vehicle designed to position the company for long-term value appreciation within the XRP ecosystem.
Although Kitao delivered the presentation in October in Japanese, prominent community figure Crypto Eri shared an English translation on X yesterday.
XRP | Ripple@evernorthxrp
"This will be very interesting." pic.twitter.com/i0KMgEIJCK— 🌸Crypto Eri ~ Carpe Diem (@sentosumosaba) November 26, 2025
Evernorth XRP Treasury Venture
His remarks follow Evernorth’s announcement that it plans to merge with Armada Acquisition Corp II to create what it calls the world’s largest XRP treasury. The company also disclosed a $1 billion fundraising effort for the initiative, led by SBI Group.
The Japanese financial giant contributed $200 million to the treasury. This sum is earmarked for purchasing XRP directly from the open market. Ripple, SBI’s longtime partner, is also contributing a combination of XRP and cash worth over $500 million.
Ripple co-founder Chris Larsen is also participating and has already made a personal contribution of 50 million XRP. Other notable investors, including Kraken, Pantera Capital, and Arrington Capital, collectively contributed over $600 million.
An Interesting Venture
The merger is expected to be finalized in the first quarter of 2026, after which the combined entity will go public on Nasdaq under the ticker XRPN. SBI CEO Yoshitaka Kitao described the initiative as “very interesting,” highlighting the high expectations surrounding the venture.
As an investor in the XRP treasury initiative, SBI stands to benefit directly from any appreciation in the stock’s value following the public listing, meaning Evernorth’s success could significantly amplify its investment.
As of November 4, Evernorth reported a balance of 473,276,430 (473.27 million) XRP, worth $1.03 billion at current market prices. These tokens are held across multiple XRPL-based wallets, with Evernorth (1) and (2) wallets holding roughly 45 million and 42 million XRP, respectively.
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