Evernorth Holdings Inc. (Nasdaq: XRPN) appointed Hugo Jeandesboz as chief investment officer on October 12, following the company's merger with Armada Acquisition Corp. II. Jeandesboz oversees allocation, liquidity management, and active management of Evernorth's XRP treasury, which held approximately 473 million tokens at closing.
Jeandesboz brings more than a decade of institutional trading and portfolio management experience. At Coinbase Asset Management, he served as co-chief investment officer leading tailored institutional strategies. Previously, he was lead derivatives trader at Coinbase, overseeing options, futures, and blockchain-based markets. His earlier positions included interest rate derivatives trading at HSBC and quantitative strategy work at Societe Generale.
Evernorth reported approximately 473 million XRP and about $300 million in gross cash proceeds from the merger before transaction expenses. Investors included Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR. The company's common stock began trading on October 12 under the ticker XRPN.
Management intends to increase XRP per share through institutional and decentralized finance yield strategies, ecosystem participation, and capital markets activities. The company is exploring opportunities involving tokenized real-world assets and decentralized finance on the XRP Ledger. On the same day as Jeandesboz's appointment, Standard Chartered announced custody support for RLUSD on the XRP Ledger, with planned collateral integration involving Ripple and LMAX Group.
