Ripple-backed Evernorth nears launch of publicly traded XRP treasury
Ripple-backed Evernorth has accumulated $1 billion in XRP and is preparing to launch a publicly traded XRP treasury on Nasdaq.Summary
Evernorth Holdings, a new digital asset company backed by Ripple, has amassed approximately $1 billion worth of XRP tokens, totaling 388.7 million tokens as of Monday. This accumulation milestone comes shortly after Evernorth's debut on October 20 as an institutional vehicle aimed at XRP adoption. With this funding, Evernorth is moving closer to launching a publicly traded XRP treasury vehicle on the Nasdaq exchange under the ticker symbol XRPN, according to CEO Asheesh Birla, a 12-year Ripple veteran. Evernorth expects to raise at least $1 billion through its merger with Armada Acquisition Corp II, featuring investments from Ripple, SBI Group, Arrington Capital, Pantera Capital, and Kraken. Birla stated that the timing is right because XRP now has clear regulatory standing in the U.S., positioning Evernorth as a trusted bridge to public markets, amid growing anticipation for spot XRP ETFs.
(Source：Cointelegraph)