Evernorth Activates XRP Treasury with Major Partners
- Evernorth will deploy its treasury of 473 million XRP, valued at approximately $639 million, with Ripple, Coinbase, Kraken, and Bitgo starting Q4.
- The strategy aims to shift XRP from passive reserves toward yield and onchain credit as DeFi on the XRP Ledger matures.
- Hugo Jeandesboz, former Coinbase executive, leads the strategy as Evernorth’s Chief Investment Officer.
- Evernorth’s shares trade on Nasdaq under XRPN following a merger with Armada Acquisition Corp. II.
Evernorth is transitioning its significant XRP holdings into an active investment strategy by partnering with established institutional firms like Ripple and Coinbase. This move marks a shift from traditional asset accumulation to generating productivity through yield and onchain credit strategies.
By leveraging its vast XRP reserves actively, Evernorth seeks to enhance returns without increasing risk significantly, setting a new benchmark for digital asset treasury management in the public sector. (Source)
