Evernorth Nears Nasdaq Listing with XRP-Focused Treasury Company

Evernorth, an XRP-focused treasury company backed by Ripple and major crypto investors, is one vote away from completing its SPAC merger with Armada Acquisition Corp. II.

The combined company plans to list on Nasdaq under the ticker XRPN, allowing for a new way to track XRP's value in the public market.

Evernorth's strategy differs from traditional crypto treasury companies, as it aims to increase the amount of XRP represented by each share over time through yield strategies and ecosystem participation.

The company has secured a $30 million convertible-note commitment from South Korea's NH Investment & Securities ahead of the vote on September 30.