Ripple-backed Evernorth plans US listing to raise over $1B and accumulate XRP
Crypto Briefing
Ripple-backed Evernorth plans a Nasdaq IPO to raise over $1 billion for an XRP-focused public treasury.Summary
Evernorth, an entity supported by Ripple, intends to list on Nasdaq with the goal of raising more than $1 billion. These proceeds are earmarked for establishing a significant public treasury centered around XRP, marking a notable advancement in the institutional use of XRP for treasury management. This initiative aligns with Ripple Labs' broader $1 billion fundraising effort to acquire XRP tokens, aiming to integrate XRP centrally into its strategy for transforming global finance. Ripple has been collaborating with major investment firms and bankers to boost XRP's standing within traditional finance.
(Source：Crypto Briefing)