Evernorth taps Ripple, Kraken, Coinbase and BitGo to put its $648M XRP treasury to work

Most crypto treasury companies buy a pile of tokens and then wait. Evernorth Holdings would like to do something with its pile. The Nasdaq-listed firm, trading under the ticker XRPN, said on October 14, 2026 that it has brought in Ripple, Kraken, Coinbase and BitGo to help deploy and actively manage its treasury of 473 million XRP. That stash carries an approximate market value of $648 million at current prices. The timing matters. Evernorth has been a public company for only a few days, and its first major move is to argue that idle tokens are a missed opportunity. What Evernorth is actually doing The plan is a phased deployment set to begin in Q4 2026. The company says it plans to expand into lending, credit markets and yield-generating DeFi strategies on the XRP Ledger as those features mature. CEO Asheesh Birla summed up the pitch in a single line. “We’re putting our treasury to work.” The treasury strategy itself sits with Chief Investment Officer Hugo Jeandesboz. He previously served as co-CIO at Coinbase Asset Management, which helps explain why Coinbase shows up on the partner list. Each partner brings something distinct. Ripple is the company most closely associated with X...