what's Evernorth Holdings?
Evernorth Holdings is a digital asset firm dedicated to advancing institutional adoption of XRP by establishing a publicly traded treasury vehicle. Founded with backing from Ripple alumni and investors like Arrington Capital, it bridges traditional finance and blockchain through regulated exposure to XRP. The company focuses on creating transparent, liquid access for corporate and institutional investors, positioning XRP as a core asset in global financial infrastructure. Evernorth operates by accumulating and managing a substantial XRP treasury, deploying tokens into institutional lending, trading, and DeFi protocols to optimize yield and growth. Via a SPAC merger with Armada Acquisition Corp II, it lists on Nasdaq under the ticker XRPN, enabling stock-based investment in XRP without direct token handling. Led by CEO Asheesh Birla, a former Ripple executive, Evernorth emphasizes compliance, liquidity provision, and ecosystem participation to support XRP's utility in cross-border payments and on-chain finance.
SBI Group committed a $200 million investment.
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x.com/evernorthxrpParticipates in XRP Community Day Americas Innovation Spotlight event scheduled for 2026-02-09 at 3:00 PM ET, alongside Gemini and Wormhole, to discuss current XRP usage and future roadmap plans.
SBI Group commits $200 million investment into the company.
CEO and Ripple CTO David Schwartz scheduled to discuss Evernorth and Digital Asset Treasuries with Michael Arrington at Swell conference on November 4-5.
Armada Acquisition Corp. II officially changes NASDAQ ticker to $XRPN and aims to raise $1B+ to build largest XRP treasury through business combination.
The ticker symbol change to XRPN on Nasdaq becomes effective on October 30, 2025.
Holdings reach 388.7M XRP (~$993M) at $2.44 average buy price, nearing $1B target with backing from Ripple and major investors.
Acquires 388.7M XRP tokens worth over $1 billion for its upcoming treasury launch.
Ripple co-founder Chris Larsen's latest sale connects to Evernorth, part of $764M+ in realized profits since January 2018.
Japanese gaming firm GUMI Inc. joins as a new investor in the PIPE investment alongside existing backers SBI Group and Ripple.
Enters into a business combination agreement with Armada Acquisition Corp II as the vehicle for the previously announced $1B+ transaction to create the largest public XRP treasury company on Nasdaq under ticker $XRPN.
The Nasdaq listing will trade under ticker $XRPN.
Ripple CTO David Schwartz joins as Strategic Advisor for the XRP treasury firm.
Plans Nasdaq listing to raise over $1 billion with backing from Ripple, SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks, with deal expected to close in early 2026 to build the largest publicly traded XRP treasury.