Evernorth Advances Towards Nasdaq Listing After SEC Milestone

Evernorth, the XRP treasury company, has moved one step closer to listing on Nasdaq after the US Securities and Exchange Commission (SEC) declared its registration statement effective.

The development follows a process that started in March when Evernorth filed its Form S-4 in connection with its planned combination with Armada Acquisition Corp. II, a special purpose acquisition company sponsored by Arrington Capital.

Evernorth CEO Asheesh Birla said the company plans to enter public markets as blockchain utility grows, adding that it expects institutional finance to increasingly be built on-chain.