Evernorth Holdings, which operates with XRP as its core asset, is strengthening its investment organization alongside its entry into the U.S. Nasdaq market. By appointing a figure with extensive experience in institutional investment and digital asset management as Chief Investment Officer (CIO), the company is picking up pace in its XRP-based treasury strategy.

On the 12th (local time), Evernorth announced the appointment of Hugo Jeandesboz as Chief Investment Officer. Evernorth is a digital asset treasury management company traded on Nasdaq under the ticker XRPN, pursuing a strategy of expanding institutional investors' access to the XRP economy and actively managing its holdings to enhance long-term value.

■ An 'All-Round Trader' Who Passed Through Coinbase, HSBC, and Societe Generale

Jeandesboz, who is joining the company, served as Co-Chief Investment Officer at Coinbase Asset Management. He managed customized investment strategies for institutional clients and accumulated more than ten years of trading and portfolio management experience across traditional finance and digital asset markets. At Coinbase, he worked as head of derivatives trading, overseeing options, futures, and on-chain markets.

Before joining Coinbase, he traded U.S. dollar and G10 currency interest rate derivatives at HSBC New York. At Societe Generale, he began his career in bond trading and worked as a quant strategist specializing in exchange-traded funds (ETFs) and algorithmic program trading. His career, spanning from traditional market derivatives trading to digital asset management, is the hallmark of this appointment.

Jeandesboz will report directly to Evernorth founder and CEO Asheesh Birla. His role will not be limited to simply managing XRP holdings. He will oversee Evernorth's XRP treasury strategy, handling asset allocation, liquidity management, and the active deployment of XRP holdings, and will also serve as the key person connecting counterparties and custodians.

■ 'Active Management Beyond Safe Custody'... Strengthening the Active Treasury Model

This appointment aligns with the active digital asset treasury model Evernorth pursues. Unlike typical corporate treasury departments that focus on the safe custody and control of assets, Evernorth is placing significant weight on strategies that actively deploy its holdings. In this process, revenue opportunities along with liquidity, risk management, and accountability frameworks become critical, and Evernorth intends to strengthen these capabilities through this appointment.

CEO Asheesh Birla evaluated Jeandesboz's experience as a good fit for the company's aggressive treasury strategy. He highlighted the growth of the tokenized real-world asset market and upgrades to the XRP Ledger (XRPL), noting in particular that new opportunities are emerging in XRP-based lending and decentralized finance (DeFi). His position is that institutional investment experts who understand both traditional and digital asset markets are needed to capitalize on these.

The core of Evernorth's strategy is a plan not to simply buy and hold XRP. The company aims to increase the value of XRP per share over the long term through institutional investment strategies, DeFi yield strategies, XRP ecosystem participation, and capital markets activities. However, the assessment of these strategies may vary depending on actual performance, and digital asset price volatility, liquidity risk, and counterparty risk must also be considered.

Jeandesboz also emphasized the XRP Ledger's potential as financial infrastructure. He stated that the financial system is being reorganized around programmable infrastructure and that the XRP Ledger is developing into a base for deploying institutional capital. He also noted that Evernorth is combining capital with the discipline of the listed markets at an early stage of this transformation, expressing his intent to contribute to building the future treasury operations framework.

■ Nasdaq-Listed XRPN Draws Attention as an Indirect XRP Investment Vehicle

The CIO appointment also draws attention in that it coincides with Evernorth's start of trading on Nasdaq. Evernorth, which began trading under the ticker XRPN on Nasdaq on the 12th, is presenting its XRP-centered digital asset treasury strategy to U.S. stock market investors. Unlike directly purchasing XRP on cryptocurrency exchanges, the feature is that investors can indirectly access XRP-related businesses and asset management strategies through shares of a listed company.

However, holding XRPN stock is not the same as holding XRP itself. The stock price is influenced by various factors, including not only the market value of the XRP held but also the company's financial structure, operational performance, and share supply and demand.

■ Correction to the Number of Class A Common Shares Issued Related to Delayed Investments

Meanwhile, Evernorth also corrected the number of Class A common shares issued in connection with delayed investment agreements. According to the company, the total number of Class A common shares actually issued to those investors at the completion of the transaction on October 9 was 1,078,614, which differs from the 663,510 shares stated in the Form 8-K previously filed with the U.S. Securities and Exchange Commission (SEC). Evernorth explained that there was an administrative error in the previous disclosure. The number of shares issued was calculated by dividing the total amount of delayed investments paid in cash or XRP tokens by ten dollars per share. This correction is something investors should examine in the process of understanding the company's share issuance scale and capital structure after listing.

Evernorth's moves can be seen as a new example of a company holding XRP as a major asset combining asset management with capital markets activities. The joining of a CIO from Coinbase Asset Management is significant in that Evernorth has secured specialized personnel to execute its XRP treasury strategy. The key question is how this staffing translates into actual management strategies and financial performance. While the Nasdaq listing and the securing of specialized management personnel could raise interest in the XRP ecosystem, this does not guarantee a rise in XRP prices or XRPN stock prices. Attention is focused on how Evernorth's active XRP treasury model will be evaluated in the U.S. public markets.

[This article is based on an announcement by Evernorth Holdings dated October 12, 2026. Virtual assets and related stocks are high-risk investment assets with significant price volatility. A company's business strategy and market outlook may differ from actual results, and this article is not a solicitation to invest in any particular asset. Investment decisions and the responsibility for them rest with the investor. This article was written with the assistance of AI.]