Evernorth to Launch XRP Treasury on Nasdaq, Raising $1B in Funding

Evernorth Holdings, a Ripple-backed firm, plans to launch an XRP treasury on Nasdaq through a merger with a special purpose acquisition company. The proposed listing, under ticker XPRN, aims to provide institutional and retail investors with regulated exposure to XRP. Evernorth has secured over $1 billion in funding from investors including Ripple, SBI Holdings, and Pantera Capital. The move follows the US regulatory classification of XRP as a digital commodity, clearing a key barrier for institutional engagement with the asset.