Evernorth Holdings Inc. begins deploying from 473 million XRP treasury with Ripple, Kraken, Coinbase and BitGo. Published on 10/14/2026 at 09:36 am EDT S&P Capital IQ Evernorth Holdings Inc. announced its inaugural institutional execution partners: Ripple, Kraken, Coinbase and BitGo. Working with these partners, Evernorth will both accumulate and deploy from its 473 million XRP treasury into institutional strategies beginning in the fourth quarter of 2026. Institutional strategies with partners to begin in the fourth quarter of 2026. This inaugural partner set was selected for the depth of their institutional infrastructure, their licensing and capitalization, and their experience serving public companies and asset managers. Together they give Evernorth a foundation for generating earnings on XRP with the requisite controls, reporting and counterparty standards that a Nasdaq-listed company requires. Evernorth's strategy is designed to expand as the XRP Ledger's own financial infrastructure matures. The first phase draws on strategies that can be executed through established institutional counterparties, with risk management and oversight by Evernorth's investment and risk team. Any and all partnership agreements remain subject to the satisfaction of customary closing conditions, and the receipt of any required regulatory and corporate approvals. (C) S&P Capital IQ - 2026

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Evernorth partners with Ripple, Coinbase, BitGo, and Kraken for $648M XRP Treasury. * Carrillo J.M. * Published: October 14, 2026 * 2:11 pm * Updated: October 14, 2026 * 2:11 pm Table of Contents * XRP Treasury: Evernorth plans to deploy part of its 473 million XRP treasury, worth about $648 million, through institutional strategies beginning in the fourth quarter. * Key Partners: Ripple, Kraken, Coinbase, and BitGo have been selected as the company's first counterparties for the treasury deployment initiative. * Growth Strategy: The firm aims to generate earnings, increase XRP holdings per share, and eventually expand into lending and onchain DeFi opportunities on the XRP Ledger. Evernorth has outlined plans to begin deploying its substantial XRP treasury through institutional strategies in the fourth quarter, marking a new phase for the company shortly after its Nasdaq debut. The announcement identified Ripple alongside cryptocurrency platforms Kraken, Coinbase, and BitGo as the first counterparties involved in the initiative. According to the company, Evernorth currently holds 473 million XRP, valued at roughly $648 million based on current market prices. The move comes just two days after the firm started trading on Nasdaq under the ticker XRPN following its deSPAC merger with Armada Acquisition Corp. II. Institutional strategy begins to take shape. Company founder and CEO Asheesh Birla said Evernorth is focused on putting its treasury assets to work rather than leaving them idle. He described Ripple, Kraken, Coinbase, and BitGo as some of the strongest institutional counterparties in the industry and confirmed that Evernorth will begin its deployment efforts with those partners. The company stated that its objective is not simply to accumulate additional XRP. Instead, the strategy seeks to generate earnings and increase XRP holdings on a per-share basis. Although the announcement detailed the overall direction of the initiative, it did not disclose how much XRP would be deployed through these institutional strategies. New investment leadership and future expansion. The treasury effort at Evernorth is being led by chief investment officer Hugo Jeandesboz, who previously served as co-chief investment officer at Coinbase Asset Management. Jeandesboz said the approach involves building a treasury strategy, establishing a risk framework, and selecting counterparties appropriate for a publicly listed company. Beyond the initial deployment plans, Evernorth also intends to explore lending opportunities and onchain DeFi strategies on the XRP Ledger as those capabilities become available. The company indicated that expanding into these areas could provide additional avenues for generating returns from its holdings. For Evernorth, the treasury initiative represents an effort to create value from existing assets rather than relying solely on balance-sheet accumulation. As new XRP Ledger features become available, Evernorth expects to broaden its approach, and Evernorth appears positioned to play a more active role in institutional XRP treasury management. Market debut and share performance. The announcement arrived during a notable week for Evernorth. Shares opened at $16.68 on Monday and remained relatively stable following the market debut. The stock closed Tuesday at $16.48 before edging higher to $16.60 in after-hours trading. Later Wednesday, Evernorth was scheduled to ring the Nasdaq closing bell, adding another milestone to its public market launch.