Evernorth names Coinbase veteran Hugo Jeandesboz CIO as XRPN starts trading on Nasdaq

Most corporate crypto treasuries follow a simple playbook: buy the coin, hold the coin, then spend earnings calls explaining the coin. Evernorth Holdings wants a more hands-on approach. The XRP-focused company named Hugo Jeandesboz as its chief investment officer on October 12, 2026. That was the same day its shares started trading on Nasdaq under the ticker XRPN. His mandate covers the company’s treasury and its XRP holdings. The new CIO and the war chest Evernorth arrived on public markets holding approximately 473 million XRP. At current prices, that position is worth about $672 million. The company also brought $300 million in cash, measured before expenses. Jeandesboz joins from Coinbase Asset Management. There, he managed investment strategies for institutional clients and led derivatives trading. He has more than a decade of experience in institutional trading. The company intends to put its holdings to work through lending, liquidity provision, and yield strategies. The stated aim is to increase the value of XRP backing each share. How Evernorth got here The Nasdaq listing followed a SPAC merger with Armada Acquisition Corp. II, which closed on October 9, 2026. The investor...