{"success":true,"data":{"pressRelease":{"id":"168796","rtpr_id":"nGNX6jkTLb-20261014","ticker":"XRPN","exchange":"NASDAQ","all_tickers":["XRPN"],"title":"Evernorth to Begin Deploying from 473 Million XRP Treasury with Ripple, Kraken, Coinbase and BitGo","author":"Globe Newswire","published_at":"2026-10-14T12:00:00.948Z","article_body":"* Announcement comes within one week of Evernorth’s debut as a Nasdaq-listed\ncompany\n* Institutional strategies with partners to begin in the fourth quarter of\n2026\n* The partnerships mark the start of a phased approach to make the company's\nXRP treasury productive, led by newly appointed CIO Hugo Jeandesboz\nSAN FRANCISCO, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Evernorth Holdings Inc.\n(Nasdaq: XRPN), a digital asset treasury company building institutional access\nto the XRP economy at scale, today announced its inaugural institutional\nexecution partners: Ripple, Kraken, Coinbase and BitGo. Working with these\npartners, Evernorth will both accumulate and deploy from its 473 million XRP\ntreasury into institutional strategies beginning in the fourth quarter of\n2026. The announcement also comes as Evernorth will ring the Nasdaq closing\nbell today to celebrate its debut as a public company, and it marks the start\nof the company's phased approach to put its XRP treasury to work rather than\nsimply hold it.\n\n\"We’re putting our treasury to work,” said Asheesh Birla, Founder and CEO\nof Evernorth. “We are beginning with some of the strongest institutional\ncounterparties in the industry, and as the XRP Ledger's own credit markets\ncome online, we intend to be there with capital on day one. That is how we\ngrow XRP per share over time, and that is how we help the ecosystem grow with\nus.\"\n\nThis inaugural partner set was selected for the depth of their institutional\ninfrastructure, their licensing and capitalization, and their experience\nserving public companies and asset managers. Together they give Evernorth a\nfoundation for generating earnings on XRP with the requisite controls,\nreporting and counterparty standards that a Nasdaq-listed company requires.\n\nEvernorth's strategy is designed to expand as the XRP Ledger's own financial\ninfrastructure matures. The first phase draws on strategies that can be\nexecuted today through established institutional counterparties, with risk\nmanagement and oversight by Evernorth's investment and risk team. As the XRP\nLedger's native lending and on-chain credit capabilities are activated by\nvalidators and proven in production, Evernorth intends to phase in\ndecentralized finance strategies on the ledger itself, allocating treasury\ncapital directly to on-chain markets.\n\nThe deployment program is overseen by Hugo Jeandesboz, who was named\n(https://www.globenewswire.com/Tracker?data=9fUYC6NunTvMVwOiMynOAFgTb3eRQRtQqSk-VxmBRlYa1V3qe7Cid-8ArUtXsItczm3OhGaobeVEvlvAkr1vqTvjkViPhQC4d3TiXu5Hz1hhtg_uDWP54MONQyVANCUi)\nEvernorth's Chief Investment Officer on September 28, 2026. Mr. Jeandesboz\njoined Evernorth from Coinbase Asset Management, where he served as Co-Chief\nInvestment Officer and led the firm's Solutions investment strategies. He\nbrings more than a decade of institutional trading and portfolio management\nexperience across digital assets and fixed income markets, including roles at\nHSBC and Société Générale. \n\n\"The question for any treasury is not whether it can hold an asset, but\nwhether it can manage one,\" said Mr. Jeandesboz. \"That means a treasury\nstrategy, a risk framework and counterparties you would be comfortable\nexplaining to a public-company board. Ripple, Kraken, Coinbase and BitGo meet\nthat bar today. As the XRP Ledger matures, the same discipline will govern how\nand when we move on-chain.\"\n\nAny and all partnership agreements remain subject to the satisfaction of\ncustomary closing conditions, and the receipt of any required regulatory and\ncorporate approvals. Evernorth's shares began trading on the Nasdaq Global\nMarket under the ticker \"XRPN\" on October 8, 2026, following the completion of\nits business combination with Armada Acquisition Corp. II. \n\nAbout Evernorth\n\nEvernorth Holdings Inc. (Nasdaq: XRPN) is a publicly traded digital asset\ntreasury company that provides investors with exposure to XRP through a\nregulated, liquid, and transparent structure. Evernorth holds one of the\nlargest XRP treasuries of any public company and puts that XRP to work,\npursuing strategies designed to grow XRP per share over time through\ninstitutional and DeFi yield strategies, ecosystem participation, and capital\nmarkets activities. To learn more, visit www.evernorth.xyz.\n\nForward-Looking Statements \n\nThis press release contains forward-looking statements, including statements\nabout Evernorth’s treasury strategy, XRP Ledger developments, market\nopportunities, and the expected contributions of its Chief Investment Officer.\nThey are based on current expectations and are not guarantees of future\nperformance. Actual results may differ materially due to factors including the\nvolatility of XRP and other digital assets, changes in laws and regulations,\nEvernorth’s ability to execute its strategies, and the other risks described\nunder “Risk Factors” in Evernorth’s filings with the SEC. Evernorth\nundertakes no obligation to update these statements except as required by law.\n\nMedia Contact\nProsek Partners for Evernorth\npro-evernorth@prosek.com\n\nInvestor Relations\nir@evernorth.xyz\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/0b81df40-4091-4382-99d6-91478cbce7c2\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4fab2a4e-5a7c-49d9-8004-cdb38f1f1c74)\nEvernorth to Begin Deploying from 473 Million XRP Treasury with Ripple,\nKraken, Coinbase and BitGo \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0b81df40-4091-4382-99d6-91478cbce7c2/en)\nEvernorth Holdings Inc. (Nasdaq: XRPN), a digital asset treasury company\nbuilding institutional access to the XRP economy at scale, today announced its\ninaugural institutional execution partners: Ripple, Kraken, Coinbase and\nBitGo.\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX6jkTLb-20261014","title":"Evernorth to Begin Deploying from 473 Million XRP Treasury with Ripple, Kraken, Coinbase and BitGo","author":"Globe Newswire","ticker":"XRPN","created":"2026-10-14T12:00:00.948Z","tickers":["XRPN"],"exchange":"NASDAQ","article_body":"* Announcement comes within one week of Evernorth’s debut as a Nasdaq-listed\ncompany\n* Institutional strategies with partners to begin in the fourth quarter of\n2026\n* The partnerships mark the start of a phased approach to make the company's\nXRP treasury productive, led by newly appointed CIO Hugo Jeandesboz\nSAN FRANCISCO, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Evernorth Holdings Inc.\n(Nasdaq: XRPN), a digital asset treasury company building institutional access\nto the XRP economy at scale, today announced its inaugural institutional\nexecution partners: Ripple, Kraken, Coinbase and BitGo. Working with these\npartners, Evernorth will both accumulate and deploy from its 473 million XRP\ntreasury into institutional strategies beginning in the fourth quarter of\n2026. The announcement also comes as Evernorth will ring the Nasdaq closing\nbell today to celebrate its debut as a public company, and it marks the start\nof the company's phased approach to put its XRP treasury to work rather than\nsimply hold it.\n\n\"We’re putting our treasury to work,” said Asheesh Birla, Founder and CEO\nof Evernorth. “We are beginning with some of the strongest institutional\ncounterparties in the industry, and as the XRP Ledger's own credit markets\ncome online, we intend to be there with capital on day one. That is how we\ngrow XRP per share over time, and that is how we help the ecosystem grow with\nus.\"\n\nThis inaugural partner set was selected for the depth of their institutional\ninfrastructure, their licensing and capitalization, and their experience\nserving public companies and asset managers. Together they give Evernorth a\nfoundation for generating earnings on XRP with the requisite controls,\nreporting and counterparty standards that a Nasdaq-listed company requires.\n\nEvernorth's strategy is designed to expand as the XRP Ledger's own financial\ninfrastructure matures. The first phase draws on strategies that can be\nexecuted today through established institutional counterparties, with risk\nmanagement and oversight by Evernorth's investment and risk team. As the XRP\nLedger's native lending and on-chain credit capabilities are activated by\nvalidators and proven in production, Evernorth intends to phase in\ndecentralized finance strategies on the ledger itself, allocating treasury\ncapital directly to on-chain markets.\n\nThe deployment program is overseen by Hugo Jeandesboz, who was named\n(https://www.globenewswire.com/Tracker?data=9fUYC6NunTvMVwOiMynOAFgTb3eRQRtQqSk-VxmBRlYa1V3qe7Cid-8ArUtXsItczm3OhGaobeVEvlvAkr1vqTvjkViPhQC4d3TiXu5Hz1hhtg_uDWP54MONQyVANCUi)\nEvernorth's Chief Investment Officer on September 28, 2026. Mr. Jeandesboz\njoined Evernorth from Coinbase Asset Management, where he served as Co-Chief\nInvestment Officer and led the firm's Solutions investment strategies. He\nbrings more than a decade of institutional trading and portfolio management\nexperience across digital assets and fixed income markets, including roles at\nHSBC and Société Générale. \n\n\"The question for any treasury is not whether it can hold an asset, but\nwhether it can manage one,\" said Mr. Jeandesboz. \"That means a treasury\nstrategy, a risk framework and counterparties you would be comfortable\nexplaining to a public-company board. Ripple, Kraken, Coinbase and BitGo meet\nthat bar today. As the XRP Ledger matures, the same discipline will govern how\nand when we move on-chain.\"\n\nAny and all partnership agreements remain subject to the satisfaction of\ncustomary closing conditions, and the receipt of any required regulatory and\ncorporate approvals. Evernorth's shares began trading on the Nasdaq Global\nMarket under the ticker \"XRPN\" on October 8, 2026, following the completion of\nits business combination with Armada Acquisition Corp. II. \n\nAbout Evernorth\n\nEvernorth Holdings Inc. (Nasdaq: XRPN) is a publicly traded digital asset\ntreasury company that provides investors with exposure to XRP through a\nregulated, liquid, and transparent structure. Evernorth holds one of the\nlargest XRP treasuries of any public company and puts that XRP to work,\npursuing strategies designed to grow XRP per share over time through\ninstitutional and DeFi yield strategies, ecosystem participation, and capital\nmarkets activities. To learn more, visit www.evernorth.xyz.\n\nForward-Looking Statements \n\nThis press release contains forward-looking statements, including statements\nabout Evernorth’s treasury strategy, XRP Ledger developments, market\nopportunities, and the expected contributions of its Chief Investment Officer.\nThey are based on current expectations and are not guarantees of future\nperformance. Actual results may differ materially due to factors including the\nvolatility of XRP and other digital assets, changes in laws and regulations,\nEvernorth’s ability to execute its strategies, and the other risks described\nunder “Risk Factors” in Evernorth’s filings with the SEC. Evernorth\nundertakes no obligation to update these statements except as required by law.\n\nMedia Contact\nProsek Partners for Evernorth\npro-evernorth@prosek.com\n\nInvestor Relations\nir@evernorth.xyz\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/0b81df40-4091-4382-99d6-91478cbce7c2\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4fab2a4e-5a7c-49d9-8004-cdb38f1f1c74)\nEvernorth to Begin Deploying from 473 Million XRP Treasury with Ripple,\nKraken, Coinbase and BitGo \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0b81df40-4091-4382-99d6-91478cbce7c2/en)\nEvernorth Holdings Inc. (Nasdaq: XRPN), a digital asset treasury company\nbuilding institutional access to the XRP economy at scale, today announced its\ninaugural institutional execution partners: Ripple, Kraken, Coinbase and\nBitGo.\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-14T12:00:01.149431126Z","server_sent_at_ms":1791979201149},"received_at":"2026-10-14T12:00:01.200Z","source_url":null},"analysis":{"id":"157055","press_release_id":"168796","analysis_json":{"industry":{"label":"Financial Services & Infrastructure (digital asset treasury / capital markets)","sector":"Financials"},"redFlags":["Partnership agreements subject to customary closing conditions and required regulatory/corporate approvals — not yet closed","Company newly listed via SPAC (Oct 8, 2026); treasury yield strategy unproven and exposed to XRP price volatility"],"eventType":"partnership","narrative":"Evernorth Holdings (Nasdaq: XRPN) named Ripple, Kraken, Coinbase and BitGo as its inaugural institutional execution partners and will begin deploying from its 473 million XRP treasury into institutional strategies in Q4 2026.\n\nThe program is led by CIO Hugo Jeandesboz, hired September 28 from Coinbase Asset Management, and is a phased approach: starting with established counterparties, then moving into on-chain DeFi strategies as XRP Ledger lending and credit markets mature.\n\nCEO Asheesh Birla framed the goal as growing XRP per share over time. Note that partnerships remain subject to customary closing and regulatory approvals, and the company only completed its SPAC merger with Armada Acquisition Corp. II and listed on October 8, 2026.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"One week post-listing, XRPN moves from passive XRP holding to yield deployment with top-tier crypto counterparties — watch execution risk."},"keyFigures":{"customDimensions":{"xrp_treasury":"473 million XRP","deployment_start":"Q4 2026","nasdaq_listing_date":"2026-10-08","cio_appointment_date":"2026-09-28"}},"quotedText":"We are beginning with some of the strongest institutional counterparties in the industry, and as the XRP Ledger's own credit markets come online, we intend to be there with capital on day one.","namedEntities":{"people":[{"name":"Asheesh Birla","role":"Founder and CEO of Evernorth"},{"name":"Hugo Jeandesboz","role":"Chief Investment Officer of Evernorth"}],"products":["XRP","XRP Ledger","Coinbase Asset Management"],"companies":[{"name":"Evernorth Holdings Inc.","ticker":"XRPN","relationship":"filer"},{"name":"Ripple","relationship":"institutional execution partner"},{"name":"Kraken","relationship":"institutional execution partner"},{"name":"Coinbase","ticker":"COIN","relationship":"institutional execution partner"},{"name":"BitGo","relationship":"institutional execution partner"},{"name":"Armada Acquisition Corp. II","relationship":"SPAC merger counterpart (completed business combination)"},{"name":"HSBC","relationship":"CIO prior employer"},{"name":"Société Générale","relationship":"CIO prior employer"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"Newly listed company announces institutional execution partners (Ripple, Kraken, Coinbase, BitGo) to put its 473 million XRP treasury to work starting Q4 2026. Strategically meaningful for a treasury-company thesis, but agreements remain subject to customary closing conditions and no dollar-value yield figures were disclosed."},"tickerRelevance":{"others":[{"ticker":"COIN","relevance":"partner (Coinbase named institutional execution partner and source of CIO hire)"}],"primary":"XRPN"},"globalImportance":32,"audienceRelevance":45,"eventTypeSecondary":["operations_update"],"importanceComponents":{"tickerTier":"newly-listed small-cap (SPAC debut Oct 2026)","eventGravity":"partnership announcement with conditional agreements, no dollar figures","recencyBoost":"first announcement one week after Nasdaq debut","sectorWeight":"digital asset treasury — high retail interest in XRP","retailFavoriteBoost":"XRP-linked equity likely retail-favorite"}},"event_type":"partnership","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"Evernorth Holdings (Nasdaq: XRPN) named Ripple, Kraken, Coinbase and BitGo as its inaugural institutional execution partners and will begin deploying from its 473 million XRP treasury into institutional strategies in Q4 2026.\n\nThe program is led by CIO Hugo Jeandesboz, hired September 28 from Coinbase Asset Management, and is a phased approach: starting with established counterparties, then moving into on-chain DeFi strategies as XRP Ledger lending and credit markets mature.\n\nCEO Asheesh Birla framed the goal as growing XRP per share over time. Note that partnerships remain subject to customary closing and regulatory approvals, and the company only completed its SPAC merger with Armada Acquisition Corp. II and listed on October 8, 2026.","key_figures":{"customDimensions":{"xrp_treasury":"473 million XRP","deployment_start":"Q4 2026","nasdaq_listing_date":"2026-10-08","cio_appointment_date":"2026-09-28"}},"named_entities":{"people":[{"name":"Asheesh Birla","role":"Founder and CEO of Evernorth"},{"name":"Hugo Jeandesboz","role":"Chief Investment Officer of Evernorth"}],"products":["XRP","XRP Ledger","Coinbase Asset Management"],"companies":[{"name":"Evernorth Holdings Inc.","ticker":"XRPN","relationship":"filer"},{"name":"Ripple","relationship":"institutional execution partner"},{"name":"Kraken","relationship":"institutional execution partner"},{"name":"Coinbase","ticker":"COIN","relationship":"institutional execution partner"},{"name":"BitGo","relationship":"institutional execution partner"},{"name":"Armada Acquisition Corp. II","relationship":"SPAC merger counterpart (completed business combination)"},{"name":"HSBC","relationship":"CIO prior employer"},{"name":"Société Générale","relationship":"CIO prior employer"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-14T12:00:14.248Z","global_importance":32,"audience_relevance":45,"importance_components":{"tickerTier":"newly-listed small-cap (SPAC debut Oct 2026)","eventGravity":"partnership announcement with conditional agreements, no dollar figures","recencyBoost":"first announcement one week after Nasdaq debut","sectorWeight":"digital asset treasury — high retail interest in XRP","retailFavoriteBoost":"XRP-linked equity likely retail-favorite"}},"durationMs":7651,"modelName":"glm-5.3-flashx"}}