XRP treasury Evernorth files with SEC to advance Nasdaq listing plan

Evernorth Holdings, supported by Ripple executives, has filed a registration statement with the SEC for its proposed merger with Nasdaq-listed SPAC Armada Acquisition Corp. II, sponsored by Arrington XRP Capital. This move aims to establish the largest publicly traded XRP treasury, offering investors regulated exposure to XRP through active treasury management strategies like lending and DeFi participation. The company has secured over $1 billion in gross proceeds from major investors including Ripple, Arrington Capital, SBI Holdings, Pantera Capital, and Kraken, with SBI committing $200 million. The listing, expected in Q1 2026 under the ticker XPRN, is anticipated following a regulatory environment shift where XRP was determined to be a digital commodity, not a security, resolving a major uncertainty since 2020.

(Source：Crypto Briefing)