Evernorth Eyes Native Lending Opportunity on XRP Ledger

Evernorth, a company that has positioned itself to utilize its XRP holdings on the XRP Ledger, is considering deploying its treasury into native ledger lending. This move would allow fixed-term, uncollateralized loans funded through single-asset vaults, with credit assessment and underwriting occurring off-chain. The proposal, known as XLS-66, has been identified by Chief Business Officer Sagar Shah as a major focus for the company.

According to Shah, Evernorth wants to deploy its XRP holdings through this proposed lending market, which would support real-world assets through features such as confidential transfers and smart escrows. The estimated opportunity in institutional tokenization is potentially trillions of dollars, with roughly $30 billion already sitting on blockchain networks.

Shah has argued that native implementation could reduce attack surfaces associated with separate smart contracts. However, the model retains off-chain underwriting and risk-management requirements. Validators still need to approve the underlying amendments before mainnet activation, which is expected but currently lacks a specific timeline.