Evernorth Set to Become First Publicly Traded Company Built Around XRP Strategy

Evernorth Holdings is on track to become the first publicly traded company focused on increasing the value of its XRP treasury. The milestone depends on a shareholder vote scheduled for September 30, 2026, which will decide the fate of Evernorth's proposed merger with Armada Acquisition Corp. II.

If approved, the merger is expected to close in late Q3 or early Q4, followed by Evernorth's debut on Nasdaq under the ticker XRPN with at least 473 million XRP held in its treasury.

The company initially accumulated 388 million XRP, with a significant portion coming from transfers from Ripple and its chairman, Chris Larsen. Evernorth later expanded its position to 473 million XRP using part of the $1 billion it raised from prominent investors, including Ripple, Pantera, GSR, Arrington Capital, and SBI Group.