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

Evernorth said it is planning a phased move into XRP lending and yield strategies following its Nasdaq debut.

By RWA Crypto Watch Editorial Team · Published Oct 14, 2026, 12:00 PM UTC · Updated 2026-10-14 · Risk level: medium
Sources checked: Oct 14, 2026, 1:16 PM UTC

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What happened

Evernorth said it is planning a phased move into XRP lending and yield strategies following its Nasdaq debut.

Reported details

  • Evernorth’s active management of its XRP treasury could set a precedent for crypto firms, highlighting potential risks and opportunities in DeFi.
  • The Nasdaq-listed treasury company plans to start institutional strategies in Q4, with direct XRP Ledger credit-market investments to follow as the infrastructure matures.

Why this matters

Evernorth carries pricing or financing terms rather than a structural change on its face. If it sets out a yield, a spread or a financing cost, the figure worth having is the net one: after issuer fees, redemption friction, and the credit behind the collateral. A headline number without those deductions is not a return, and this brief does not treat it as one.

Evidence boundary

The scope is limited to what the linked reports state, and where two of them diverge both positions are recorded without either being picked in advance.

What to verify

Read Evernorth for any figure it actually states, net of issuer fees and redemption friction where those apply, alongside the credit standing of whatever collateral is named.

Sources and editorial check time

This information is educational and is not financial, legal, or tax advice.

Sources