Evernorth Holdings to List on Nasdaq, Plans to Expand XRP Treasury with $1 Billion in Funding

Evernorth Holdings, backed by Ripple, filed with the SEC to list on Nasdaq through a merger with Armada Acquisition Corp. II, raising over $1 billion for its XRP treasury. The company plans to provide a structure for XRP investors, actively managing its treasury through open-market purchases and on-chain yield strategies. Evernorth will operate its own validators within the XRP Ledger ecosystem and integrate Ripple's RLUSD stablecoin.