XRP Treasury Giant Says Legacy Banking Rails Are Decades Behind Modern Tech

Evernorth, the largest public XRP treasury company, says much of the global financial system still runs on outdated technology, even as blockchain and AI continue to grow quickly.

In a post on X, the company shared comments from COO Meg Nakamura during the Web Summit Vancouver event. She explained why traditional banking systems may struggle to keep up with modern digital finance and how blockchain networks like the XRP Ledger could play a larger role in the future.

Key Points

• Evernorth says legacy banking systems are decades old and too slow for modern digital finance.
• The firm argues blockchain networks like XRP Ledger could power faster global money transfers.
• It says XRP is expanding beyond payments into DeFi, lending, and tokenized financial products.
• Evernorth is preparing a Nasdaq listing under “XRPN” with over $1B backing its XRP treasury strategy.

Evernorth Says Banking Rails Are Too Slow

According to Evernorth, the systems connecting major banks today were built 30 to 60 years ago. The company said these systems no longer match the speed of the modern internet.

Evernorth compared global money transfers to sending photos online. People can instantly share photos and videos worldwide for free, but sending money across borders is still slow and inefficient in many cases.

Nakamura said the financial industry may soon go through a major shift. Instead of upgrading old banking systems, developers could begin building financial applications directly on blockchain networks.

XRP Expanding Beyond Payments

Evernorth also said XRP is now being used for more than cross-border payments. According to the company, XRP has expanded into areas such as lending, tokenized vaults, and decentralized finance (DeFi).

The firm added that combining blockchain with AI could create major opportunities for the financial industry. However, it warned that AI systems moving too quickly without safeguards could also create risks.

Evernorth believes the next stage of financial innovation will involve blockchain and AI working together while still following compliance and safety standards.

Evernorth Plans Nasdaq Listing

The comments come after Evernorth announced plans to become a publicly traded XRP treasury company.

In March 2026, Evernorth Holdings filed paperwork with the U.S. SEC as part of a planned merger with Armada Acquisition Corp. II, which is backed by Arrington Capital.

The company plans to hold XRP in its corporate treasury and give investors regulated exposure to XRP through public markets.

Evernorth said it has raised more than $1 billion for the strategy. Supporters include Ripple, SBI Holdings, Pantera Capital, and Kraken.

If approved by regulators and shareholders, the company plans to trade on the NASDAQ under the ticker symbol “XRPN.”