According to The Block, Evernorth is planning a phased move into XRP lending and yield strategies following its Nasdaq debut. The company has engaged Ripple, Kraken, Coinbase and BitGo to put its $648 million XRP treasury to work.
The engagement involves the four cryptocurrency providers assisting Evernorth in deploying the XRP holdings through lending and yield mechanisms. No details were provided about timing, allocation size, or specific terms of the arrangement. The move follows Evernorth’s recent listing on Nasdaq, marking a milestone for the organization’s growth trajectory.
By working with Ripple, Kraken, Coinbase and BitGo, Evernorth aims to manage the XRP assets through established custody and market access solutions. The phased approach suggests implementation will occur over time rather than all at once. No public statements were made by any of the four partners regarding cooperation with Evernorth.
