Evernorth Clears SEC Hurdle in Path to Nasdaq Listing

Evernorth, an XRP treasury giant, has moved closer to listing on Nasdaq after a major milestone was reached with the US Securities and Exchange Commission (SEC).

The company's registration statement was declared effective by the SEC on August 27, paving the way for its proposed merger with Armada Acquisition Corp. II.

With this development, Evernorth is one step closer to becoming a publicly traded company, although shareholders still need to approve the deal before it can close.

The company plans to enter public markets as blockchain utility grows and expects institutional finance to increasingly be built on-chain, with XRP playing a key role in that work, according to CEO Asheesh Birla.