Evernorth Deploys 473M XRP in Strategic Partnerships with Ripple, Coinbase, Kraken, BitGo

Evernorth Taps Ripple, Kraken, Coinbase, and BitGo for XRP Treasury Deployment

Evernorth, the XRP-focused treasury company, has announced its inaugural institutional execution partners as it prepares to actively deploy its significant XRP holdings. The company has forged strategic alliances with Ripple, Kraken, Coinbase, and BitGo.

These collaborations will be instrumental in Evernorth’s plan to deploy its 473 million XRP treasury into institutional strategies, commencing in the fourth quarter of 2026.

This announcement follows closely on the heels of Evernorth’s debut as a publicly traded entity on Nasdaq, under the ticker symbol XRPN. It marks a pivotal first step in the company’s broader strategy to generate returns from its XRP assets, moving beyond a passive holding approach.

In its official press release, Evernorth stated that its selection of these four partners was based on their robust institutional infrastructure, established licensing, financial stability, and proven track record of working with public companies and asset managers. These partnerships are anticipated to provide the necessary support for managing XRP investments, ensuring rigorous risk controls, comprehensive reporting, and diligent counterparty oversight.

Looking further ahead, Evernorth’s strategic roadmap includes venturing into decentralized finance (DeFi). As the XRP Ledger continues to develop its native lending and on-chain credit functionalities, Evernorth intends to explore direct investment opportunities within the network.

Commenting on this significant development, Evernorth’s founder and chief executive, Asheesh Birla, stated, “We’re putting our treasury to work. We are beginning with some of the strongest institutional counterparties in the industry, and as the XRP Ledger’s own credit markets come online, we intend to be there with capital on day one. That is how we grow XRP per share over time, and that is how we help the ecosystem grow with us.”

Hugo Jeandesboz, who assumed the role of Chief Investment Officer on September 28, has been appointed to lead this deployment program. Jeandesboz brings a wealth of experience from his previous tenure at Coinbase Asset Management, where he served as Co-CIO and spearheaded investment strategies for Solutions.

Evernorth’s stock, XRPN, experienced a downturn on Tuesday, closing at $16.48, a decrease of approximately 2.54% from the previous day. The recent news had no discernible impact on the price of XRP itself, with the cryptocurrency asset remaining unchanged over the preceding 24 hours. At the time of reporting, XRP was trading below $1.4.