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      Evernorth Partners with Major Crypto Firms to Deploy $648 Million XRP Treasury

      Evernorth Holdings, a newly listed firm on Nasdaq under the ticker XRPN, has announced plans to actively manage its treasury of 473 million XRP, valued at approximately $648 million. The company has engaged Ripple, Kraken, Coinbase, and BitGo to assist in deploying these assets into lending and decentralized finance (DeFi) strategies, with a phased rollout set to begin in the fourth quarter of 2026.

      The announcement comes just days after Evernorth completed its merger with Armada Acquisition Corp. II, which was finalized on October 9, 2026. CEO Asheesh Birla emphasized the importance of utilizing idle tokens, stating, "We’re putting our treasury to work." Chief Investment Officer Hugo Jeandesboz, who has a background in asset management at Coinbase, will oversee the treasury strategy.

      Each partner brings unique expertise to the initiative. Ripple is closely associated with XRP, while Kraken and Coinbase are among the largest cryptocurrency exchanges in the United States. BitGo specializes in institutional custody, ensuring the safe storage of digital assets for significant holders. Evernorth aims to provide investors with regulated public-market exposure to XRP and the broader XRP Ledger ecosystem.

      As a Nasdaq-listed entity, Evernorth will be required to disclose its treasury management activities in public filings, including the performance of its strategies and associated risks. Key points to monitor will be the timely commencement of the deployment in Q4 2026 and the extent to which the XRP treasury is utilized for yield-generating activities.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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