How Evernorth Plans to Make XRP a $1-Billion Corporate Treasury Asset
Evernorth is merging with a SPAC to list on Nasdaq as XRPN, aiming to build a $1B corporate treasury primarily holding XRP.Summary
Evernorth is a new digital asset treasury aiming to use over $1 billion in raised capital, mostly from a SPAC merger targeting a Q1 2026 Nasdaq listing under the ticker XRPN, to purchase and manage XRP on its corporate balance sheet. This structure offers investors exposure to XRP through publicly traded stock, avoiding the complexities of direct crypto custody and compliance for corporations. Unlike a passive ETF, Evernorth plans to actively increase its "XRP per share" over time through open-market purchases, institutional lending, and selected DeFi yield, all within disclosed risk controls. Led by former Ripple executive Asheesh Birla as CEO, Evernorth seeks to become the largest publicly traded holder of XRP, supported by anchor investors like SBI Holdings, Ripple, Pantera Capital, and Kraken.
(Source：Cointelegraph)