Evernorth Holdings has appointed Hugo Jeandesboz as its chief investment officer. The appointment was announced on October 12, 2026, the same day the company began trading on Nasdaq under the ticker XRPN.
The company entered the public market with a treasury of approximately 473 million XRP, valued at roughly $672 million. The total value of the transaction exceeded $1 billion, including cash assets.
Jeandesboz previously worked at Coinbase Asset Management, where he focused on institutional investment strategies and derivatives trading. He will now oversee active management of the company's XRP holdings.
Evernorth plans to utilize its assets through lending, liquidity provision, and yield strategies to increase the value of XRP backing each share. This approach contrasts with the passive holding model.
The Nasdaq listing followed a SPAC merger with Armada Acquisition Corp. II, which was finalized on October 9, 2026. Key investors in the company include Ripple, Arrington Capital, and SBI Group.
