Evernorth Is Ready to Put Its XRP to Work Most crypto treasuries sit there and hope the price goes up. Evernorth wants its coins to earn their keep. 💼 Less than a week after listing, it named Ripple, Kraken, Coinbase and BitGo as the first partners for deploying its roughly 473 million $XRP , worth about $648 million. The first phase is expected in Q4, pending approvals, and leading it is Hugo Jeandesboz, former co-CIO at Coinbase Asset Management. The plan starts with established counterparties and later moves toward lending on the XRP Ledger. CEO Asheesh Birla’s goal is simple: more XRP per share over time. What I keep in mind is how much is still undecided. 🔍 Evernorth hasn’t said how much XRP it will deploy first, how it’ll be split between partners or what returns it expects. And on-chain lending only becomes an option once validators approve it and it proves reliable in production. My view? This is a different bet than a passive XRP treasury, and that’s both the appeal and the risk. Yield can grow the stack, but counterparty, liquidity and operational risk come with it, and I’d judge it by whether XRP per share actually grows a year from now. ⚖️ #XRP #Macro Insights#