TheBlock
Evernorth plans to deploy its XRP holdings across the XRP Ledger ecosystem as proposed native lending functionality advances through review, according to Chief Business Officer Sagar Shah. Speaking at the Wyoming Blockchain Symposium 2026, Shah described the company as an XRP-focused digital asset treasury designed to use its holdings rather than hold them passively. The company is also pursuing a public listing.
Shah identified XLS-66 as a key part of that strategy. The proposal would add lending functionality at the XRP Ledger level, a structure he said could reduce exposure to vulnerabilities associated with smart-contract-based DeFi applications on other networks. Validators are reviewing the code and assessing its robustness before the proposal can move forward.
Why it matters
Evernorth's planned deployment would connect institutional XRP holdings with a proposed native financial primitive on the XRP Ledger. If approved, XLS-66 could give the network an integrated lending layer while positioning XRP as working capital for ecosystem activity.
The proposal remains subject to technical review and validator assessment. Shah also cited confidential transfers and smart escrows as capabilities that could expand the ledger's role in real-world assets, alongside a tokenized market he described as roughly $30 billion today with the potential to reach trillions.
Market impact
Native lending could broaden the XRP Ledger's DeFi utility, but implementation and security will determine whether it can attract meaningful liquidity. Evernorth's interest provides a potential institutional demand channel, while a public listing could give investors another vehicle for XRP-focused exposure.
The central market question is whether validator approval and the final design can translate Evernorth's treasury strategy into sustained on-ledger activity without weakening user protections.
Frequently asked questions
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What is Evernorth planning to do with its XRP holdings?
Evernorth plans to deploy its XRP holdings across the XRP Ledger ecosystem as proposed native lending functionality moves through review.
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What would XLS-66 add to the XRP Ledger?
XLS-66 proposes native lending functionality at the ledger level, rather than relying on a separate smart-contract application.
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Why does Sagar Shah view native lending as safer?
Shah argued that functionality built into the ledger could offer greater protection from exploits associated with smart contracts on other networks.
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What is the current status of the lending proposal?
Validators are reviewing the proposal's code and assessing its robustness as it moves forward.
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How could the proposal affect the tokenized asset market?
Alongside confidential transfers and smart escrows, native lending could broaden the XRP Ledger's role in real-world assets and support greater liquidity deployment.
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