Evernorth Says XRPL Drove the XRP Settlement Flow in a Multi-Institution Treasury Redemption

On May 18, Evernorth said the key takeaway from a recent cross-institution blockchain workflow was XRPL coordinating settlement between Ripple, Mastercard, J.P. Morgan’s Kinexys, and Ondo Finance. The firm described Ripple redeeming OUSG on XRPL before the flow passed through Mastercard into Kinexys, with U.S. dollar proceeds reaching Ripple’s Singapore account outside normal banking hours. Evernorth also pointed to filings stating it raised more than $1 billion in gross proceeds tied to a planned Nasdaq listing under ticker XRPN.