Evernorth has named Ripple, Kraken, Coinbase, and BitGo as its first institutional execution partners as the XRP-focused treasury company prepares to put its holdings to work. The partners will help Evernorth deploy its 473 million XRP treasury into institutional strategies beginning in the fourth quarter of 2026.
The announcement follows Evernorth's debut as a publicly traded company on Nasdaq under the ticker symbol XRPN. According to the company's official press release, the four partners were selected for their institutional infrastructure, licensing, financial strength, and experience working with public companies and asset managers. The partnerships aim to provide the necessary support to manage XRP investments with risk controls, reporting, and counterparty oversight.
As part of its longer-term plan, Evernorth also intends to explore decentralized finance opportunities directly on the XRP Ledger as its native lending and on-chain credit features develop.
Evernorth founder and chief executive Asheesh Birla stated that the company is beginning with institutional counterparties and intends to deploy capital into the XRP Ledger's credit markets when they come online.
Hugo Jeandesboz, who assumed the role of chief investment officer on September 28, will lead the deployment program. Jeandesboz previously served as co-CIO at Coinbase Asset Management, where he led investment strategies for Solutions.
The partnership announcement did not impact the market. XRPN closed down approximately 2.54% at $16.48 on Tuesday, while the price of XRP remained unchanged over a 24-hour period, trading below $1.40.
