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Evernorth targets XRP Ledger native lending to reduce smart contract risk

Evernorth Chief Business Officer Sagar Shah said XRP Ledger validators are reviewing the XLS-66 code proposal as the firm pursues deploying its XRP holdings in the ecosystem.

Reported · Written up by our desk · DeFi

Evernorth, an XRP-focused digital asset treasury firm, is exploring decentralized finance use cases through the XRP Ledger as a proposal for native lending functionality, called XLS-66, moves through the network review process, according to The Block. The company aims to put its XRP holdings to work in the ecosystem rather than holding them idle, while it also works toward going public, said Evernorth Chief Business Officer Sagar Shah.

Speaking at the Wyoming Blockchain Symposium 2026, Shah described XLS-66 as a ledger-level approach to lending intended to reduce smart contract risks. He argued that protections built natively into the XRP Ledger could make smart contract exploits far less likely than DeFi applications built with smart contracts on other networks.

The Block also reported that validators are currently reviewing the XLS-66 code and assessing its robustness. Shah said Evernorth previously spent five years at Ripple and highlighted other XRP Ledger functions he expects could expand real-world asset use, including confidential transfers and smart escrows.

Shah further said about $30 billion in assets are currently tokenized, while he suggested the market could ultimately reach the trillions, as Evernorth looks for additional ways to expand XRP Ledger utility through proposed ledger features.

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