Crypto
Evernorth XRP Treasury Deal Clears SEC Hurdle, Paving Way for Nasdaq Listing
A proposed merger between Armada Acquisition Corp II and Evernorth, an XRP treasury company, is moving forward after receiving clearance from the U.S. Securities and Exchange Commission on August 27.
If approved, the combined company will trade under the ticker XRPN on the Nasdaq, with over 470 million XRP backed by more than $1 billion in investor funds.
Evernorth plans to actively manage its XRP holdings through lending, providing liquidity, and using the assets in other parts of the digital asset market.