Ripple-Backed Evernorth to Raise Over $1 Billion in U.S. | NASDAQ Listing to Expand XRP Treasury

Ripple-Backed Evernorth Plans to Raise Over $1 Billion in the U.S. to Expand XRP Treasury

The cryptocurrency industry witnessed a major financial move on Monday as Evernorth Holdings Inc., a U.S.-based company affiliated with Ripple Labs, announced plans to raise over $1 billion through a public listing on the NASDAQ. The move aims to expand Evernorth’s holdings of XRP tokens and strengthen institutional adoption of blockchain-based assets.

A Landmark Financial Deal

Evernorth confirmed that it will go public via a merger with a special-purpose acquisition company (SPAC) named Armada Acquisition Corp II. Upon completion, the company is expected to trade under the ticker symbol “XRPN” on the NASDAQ exchange.

According to official filings, Japan’s SBI Holdings will contribute $200 million in direct investment, while Pantera Capital, Kraken Ventures, and other digital asset firms are also expected to participate.

Evernorth’s strategy focuses not only on fundraising but also on creating a global XRP treasury by purchasing and managing XRP tokens. The firm intends to use these holdings to promote institutional investment, liquidity provisioning, and participation in DeFi (Decentralized Finance) ecosystems worldwide.

Ripple’s Expanding Financial Influence

Ripple’s growing regulatory clarity in the U.S. has set the stage for this ambitious plan. Market analysts suggest that Evernorth’s move aligns with Ripple’s broader vision — to transform XRP from a simple cryptocurrency into a mainstream financial asset used by institutional investors.

This initiative could increase transparency and confidence in the crypto market while strengthening Ripple’s position within the global financial ecosystem. However, analysts also caution that volatility in token prices, regulatory shifts, and liquidity risks could pose significant challenges.

Strategic Approach and Timeline

Evernorth’s business model is designed to operate as a hybrid financial institution, combining treasury management with crypto investment. Each shareholder will gain indirect access to XRP’s growth potential through corporate earnings and asset value appreciation.

The company projects that the merger and public listing will be completed by Q1 2026, pending regulatory approval and shareholder consent.

Global Market Impact

If successful, this listing could mark a turning point for institutional crypto integration. Experts predict that the move will encourage other blockchain firms to pursue similar paths, bridging the gap between traditional finance and decentralized assets.

Still, the plan carries risks. Any drop in XRP’s market value or a decline in global liquidity could negatively affect Evernorth’s projected returns. Yet, the company remains confident that its treasury-backed model provides long-term stability amid crypto volatility.

Conclusion

Ripple and Evernorth’s collaboration signals a major milestone in the fusion of traditional finance and digital assets. By turning XRP into a treasury-backed investment vehicle, the firms are paving the way for a new era of crypto adoption at an institutional level.

If the plan succeeds, it could redefine how global markets perceive and utilize cryptocurrencies in mainstream finance.