Evernorth's XRP Treasury Nears Nasdaq Debut

The U.S. Securities and Exchange Commission has cleared the way for Evernorth Holdings' planned combination with Armada Acquisition Corp. II to move forward, bringing the XRP treasury company closer to listing on Nasdaq.

Evernorth, which holds XRP and actively manages its holdings, ranked second among institutional XRP holders late last year. Its backers include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.

The combined company is expected to list on Nasdaq under the ticker XRPN, with the business combination expected to close in late third quarter or early fourth quarter of 2026, subject to shareholder approval and customary closing conditions.