XRP Ledger Gains Brazilian Fund Backing as Evernorth Clears Shareholder Vote
Published on 10/01/2026 at 02:40 | Editorial boerse-global.de
A Brazilian financial market infrastructure provider has begun anchoring fund ownership records to the XRP Ledger, giving the network a tangible institutional use case just as its largest corporate vehicle clears a key governance hurdle.
CSD BR is now using the ledger to mirror and verify proof of ownership for selected investment fund shares issued by Banco BTG Pactual. The existing CSD BR systems remain the official register for custody, settlement and registration, while the new project leans on the network's token standard. Later phases could extend to native issuance and on-chain trading.
Evernorth Wins Investor Approval
On the corporate side, shareholders of the special purpose acquisition company Armada Acquisition Corp. II voted in favor of the planned merger with Evernorth Holdings. The approval moves the Ripple-backed entity a decisive step closer to listing on the Nasdaq under the ticker XRPN.
The deal is designed to create an XRP-focused treasury company on a regulated U.S. equity venue. Before trading can begin, the remaining closing conditions and the exchange's final listing requirements still have to be satisfied.
Should investors sell immediately? Or is it worth buying XRP?
The vote outcome lent support to the token after a stretch of elevated volatility. XRP last changed hands at USD 1.49, roughly 9.0 percent above its 50-day average of USD 1.37. The prospect of a listed holding vehicle underscores efforts to tie the asset more closely to traditional capital markets, where direct exposure often runs into regulatory obstacles and institutions increasingly look for wrappers on established trading venues.
ETF Inflows and the September Tally
That appetite is visible in the regulated fund space. U.S. spot XRP ETFs drew net inflows of USD 121.4 million over the course of September, according to media reports, with total net assets in the category reaching USD 1.69 billion as of the September 29 cut-off.
Attention now shifts to Ripple's scheduled escrow window, which opens on Thursday and can release up to one billion XRP from the trust. The timed mechanism does not amount to an automatic sale of the tokens on the open market.
Network Upgrades Race Toward Activation
Technical preparations for functional additions to the network are advancing in parallel. The XRP Ledger Foundation and RippleX recently shipped an emergency software update to address security-related protocol issues, calling on node operators to upgrade promptly to avoid being locked out of future votes.
Activation deadlines for two significant protocol extensions had slipped after validator support temporarily fell below the required threshold. BatchV1_1, which bundles up to eight transactions, is expected on October 9. PermissionDelegationV1_1, which lets accounts delegate specific tasks without exposing controlling keys, is targeted for October 8.
Ripple President Monica Long said tokenized assets are likely to be issued primarily on public blockchains going forward, pointing to institutional features such as permission delegation and confidential transfers on the XRP Ledger. The company did not announce new products or a dedicated investment program in that context.
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