Evernorth Seeks to Leverage XRP Ledger for Native Lending and Asset Tokenization

Evernorth, an XRP-focused digital asset treasury, is looking to deploy its holdings across the XRP Ledger ecosystem. According to Chief Business Officer Sagar Shah, the company aims to put its assets to use rather than simply holding them. Evernorth is currently in the process of going public, said Shah.

The company's interest in the XRP Ledger is driven by the proposed XLS-66 proposal, which seeks to bring native lending functionality to the network. This feature could offer greater protections against smart contract exploits compared to DeFi applications built on other networks, argued Shah. Validators are currently reviewing the code and assessing its robustness as the proposal moves forward.

Shah also highlighted confidential transfers and smart escrows as additional functions that could broaden the XRP Ledger's use in real-world assets. He noted that roughly $30 billion in assets are currently tokenized, while the market could potentially run into the trillions.