Evernorth Appoints Hugo Jeandesboz as CIO on Nasdaq Debut with XRPN Shares

Evernorth Holdings, a company focused on XRP, has appointed Hugo Jeandesboz as its Chief Investment Officer as it officially began trading on Nasdaq under the ticker XRPN on October 12, 2026. This strategic move coincides with the company's goal to adopt a more active management approach to its treasury and XRP holdings.

On its debut, Evernorth's shares rose by 5%, reflecting investor enthusiasm for what is described as the first dedicated public vehicle centered around XRP. The company began trading following a merger with Armada Acquisition Corp. II, which closed on October 9, 2026. This merger process allowed Evernorth to enter the public market more swiftly than a traditional IPO.

At the time of its listing, Evernorth held approximately 473 million XRP, valued at around $672 million, alongside $300 million in cash. Jeandesboz, who previously worked at Coinbase Asset Management, will oversee strategies aimed at increasing the value of XRP backing each share, including lending, liquidity provision, and yield strategies.

This active management model distinguishes Evernorth from many corporate crypto treasuries that typically adopt a buy-and-hold strategy. The company’s approach could offer investors a regulated, exchange-listed means of gaining exposure to XRP, potentially enhancing returns through active management, although it also introduces associated risks.

As Evernorth navigates its new public status, it plans to ring the Nasdaq closing bell on October 14, 2026, marking a significant milestone in its journey.