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10/15/2026

Evernorth Deploys $648M XRP Treasury With Ripple, Kraken, Coinbase, BitGo

What happened: Evernorth, following its Nasdaq debut under ticker XRPN, announced the deployment of its 473 million XRP treasury (worth ~$648 million) through institutional yield and lending strategie

Evernorth Deploys $648M XRP Treasury With Ripple, Kraken, Coinbase, BitGo

What happened: Evernorth, following its Nasdaq debut under ticker XRPN, announced the deployment of its 473 million XRP treasury (worth ~$648 million) through institutional yield and lending strategies. The company named Ripple, Kraken, Coinbase, and BitGo as its initial execution partners and plans to expand into onchain DeFi strategies on the XRP Ledger. Evernorth is backed by Ripple, SBI Holdings, Pantera Capital, and Kraken, and recently raised approximately $300 million in gross proceeds before costs.

Why it matters: This marks one of the largest institutional deployments of XRP to date and signals a maturing approach to treasury management in the crypto sector. By focusing on earnings and XRP-per-share growth rather than mere token accumulation, Evernorth is positioning itself as a yield-focused institutional player, leveraging established crypto infrastructure. The move could set a precedent for other large token treasuries seeking to optimize returns in a regulated, transparent manner.

Source: The Block