A company puts $648 million worth of XRP on its balance sheet—not to trade it, but to put it to work. That's the signal Evernorth sent out after its Nasdaq listing.
According to The Block, Evernorth said it will roll out its XRP lending and yield strategy in phases, naming four partners at once: Ripple, Kraken, Coinbase, and BitGo. The lineup itself reveals the deployment logic—Ripple is the issuer and technical origin of the XRP ecosystem, Kraken and Coinbase serve as gateways for liquidity and trading, while BitGo fills in the piece for institutional-grade custody. Together, the four effectively plug a single-asset treasury into three lines at once: issuance, trading, and custody.
For now, that's all that's been disclosed. Evernorth has yet to spell out the specifics of its lending and yield strategy, the timeline for its phased rollout, or how responsibilities will be divided among the four partners.
