Coinbase has been named an institutional partner of Evernorth, a Ripple-backed entity holding a treasury of 473 million XRP. The other inaugural partners are Ripple, Kraken and BitGo, all selected for their institutional infrastructure and experience serving public companies. Evernorth completed its Nasdaq Global Market listing under the ticker XRPN on October 12, 2026, after raising $300 million from Armada II. The company plans to begin deploying its XRP treasury into institutional strategies in the fourth quarter of 2026, before gradually integrating decentralized finance strategies on the XRP Ledger. Evernorth is now the largest publicly traded pure-play XRP treasury company.
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