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XRP News: Evernorth to Deploy 473 Million XRP With Ripple, Kraken, Coinbase
Evernorth named Ripple, Kraken, Coinbase, and BitGo as its first institutional execution partners.
Ripple will support XRP Ledger infrastructure, while Kraken and Coinbase provide exchange access and liquidity.
CEO Asheesh Birla said the company aims to generate earnings and grow XRP per share over time.
Evernorth Holdings, a digital asset treasury company, plans to use its 473 million XRP holdings to generate returns instead of simply holding the tokens. The company has partnered with Ripple, Kraken, Coinbase, and BitGo and expects to begin using its XRP treasury in the fourth quarter of 2026.
Evernorth to Deploy 473 Million XRP Treasury
Evernorth plans to use its 473 million XRP holdings for institutional strategies rather than simply holding the tokens. The company aims to generate earnings from its treasury while increasing the amount of XRP represented by each share over time.
The announcement came on October 14, as Evernorth prepared to ring the Nasdaq closing bell to celebrate its debut as a public company. Its planned treasury strategy marks the next step in its effort to build institutional access to the XRP market.
Evernorth CEO Asheesh Birla said the company wants to put its treasury to work and participate in the XRP ecosystem’s growth.
“We’re putting our treasury to work.”
He further added that the company wants to grow XRP per share over time while supporting the wider ecosystem.
How Ripple, Kraken, Coinbase and BitGo Will Help
To support its treasury strategy, Evernorth has selected Ripple, Kraken, Coinbase and BitGo as its first institutional execution partners. The company said it chose them for their institutional infrastructure, licensing, financial strength, and experience serving public companies and asset managers.
Each partner will support different parts of Evernorth’s operations. Ripple will connect the company with the XRP ecosystem and its infrastructure, while Kraken and Coinbase will provide exchange services for executing trades. BitGo will support the institutional custody of its digital assets.
Together, the four partners will help Evernorth manage its XRP holdings and carry out its planned strategies under the controls and reporting standards expected of a Nasdaq-listed company.
Evernorth has not disclosed how much of its XRP treasury will be allocated to each strategy or provided specific return targets. Its plans will also depend on market conditions and the development of new opportunities, including credit markets on the XRP Ledger.
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