Evernorth Partners with Ripple, Kraken, Coinbase, and BitGo to Deploy $648 Million XRP Treasury

According to The Block, XRP treasury company Evernorth (Nasdaq: XRPN) has announced partnerships with Ripple, Kraken, Coinbase, and BitGo, with plans to launch an institutional-grade XRP deployment strategy in Q4 2026. The firm currently holds 473 million XRP, valued at approximately $648 million, and aims to boost per-share ownership through active treasury management rather than passive accumulation. Spearheaded by Hugo Jeandesboz, former co-head of investment at Coinbase Asset Management, the initiative will later expand to lending and on-chain DeFi strategies on the XRP Ledger.