{"id":13811,"date":"2025-10-20T14:38:11","date_gmt":"2025-10-20T14:38:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ripple-backed-evernorth-eyes-nasdaq-debut-with-1b-for-xrp-treasury\/"},"modified":"2025-10-20T14:38:15","modified_gmt":"2025-10-20T14:38:15","slug":"ripple-backed-evernorth-eyes-nasdaq-debut-with-1b-for-xrp-treasury","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ripple-backed-evernorth-eyes-nasdaq-debut-with-1b-for-xrp-treasury\/","title":{"rendered":"Ripple-backed Evernorth eyes Nasdaq debut with $1b for XRP treasury"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Evernorth Holdings Inc., a Ripple-backed venture firm aimed at advancing institutional XRP adoption, is set for its public debut on Nasdaq amid a $1 billion raise.<\/p>\n<div id=\"cn-block-summary-block_b09969e04626cd04749467a76b7d1eb7\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Evernorth eyes an initial $1 billion outlay on an XRP treasury move.<\/li>\n<li>The Ripple-backed company has secured backing from SBI Holdings, Kraken and Pantera Capital among others.<\/li>\n<li>XRP continues to attract attention amid a flurry of Ripple related investments and partnerships.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Evernorth plans to list on the Nasdaq via a merger with publicly traded special purpose acquisition company Armada Acquisition Corp II, according to details in a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/evernorth-to-go-public-with-over-1-billion-in-gross-proceeds-302588932.html\" target=\"_blank\" rel=\"nofollow\">press release<\/a> published on Monday.<\/p>\n<p>The business combination with the blank-check firm will launch Evernorth with over $1 billion in proceeds, including $200 million from SBI Holdings, alongside support from Pantera Capital and Kraken.<\/p>\n<p>According to details, the expected debut in the U.S. will put into motion the overall trajectory towards creating the largest XRP (XRP) treasury company.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">An XRP treasury vehicle<\/h2>\n<p>Evernorth eyes a solution that allows investors to benefit from a simple, liquid, and transparent way of gaining exposure to XRP.\u00a0<\/p>\n<p>The publicly listed entity will offer this avenue, going beyond what passive exchange-traded funds do. As highlighted, the company\u2019s goal is to grow the per share value for shareholders through focus on aspects such as institutional lending, liquidity provisioning, and decentralized finance yield.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cEvernorth is built to provide investors more than just exposure to XRP\u2019s price,\u201d said Asheesh Birla, chief executive officer of Evernorth. \u201cAs we capitalize on existing TradFi yield generation strategies and deploy into DeFi yield opportunities, we also contribute to the growth and maturity of that ecosystem. This approach is designed to generate returns for shareholders while supporting XRP\u2019s utility and adoption. It\u2019s a symbiotic model: our strategy is designed to align with the growth of the XRP ecosystem.\u201d<\/p>\n<\/blockquote>\n<p>Ripple chief executive officer Brad Garlinghouse commented on the public listing via X:<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Asheesh and team are building something special with <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/evernorthxrp?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@evernorthxrp<\/a>. We are proud to partner with him \u2014 and proud to join an incredible set of investors including SBI Holdings, Pantera Capital, Kraken, GSR and Rippleworks, to support Evernorth as it participates in institutional\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/qeAqXtmQcV\">https:\/\/t.co\/qeAqXtmQcV<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1980253080550564200?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 20, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The move comes days after reports Ripple was looking to raise $1 billion for an XRP treasury strategy, and also hot on the heels of the crypto company\u2019s acquisition of digital asset treasury management firm GTreasury.\u00a0<\/p>\n<p>Ripple has attracted increased attention in recent months, with the end of its legal battle with the U.S. Securities and Exchange Commission a key catalyst. The overall crypto-friendly stance in the U.S. is also aiding this outlook. <\/p>\n<p>XRP is one of the cryptocurrencies expected to receive a regulatory nod for a spot ETF from the SEC.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Evernorth Holdings Inc., a Ripple-backed venture firm aimed at advancing institutional XRP adoption, is set for its public debut on Nasdaq amid a $1 billion raise. Summary Evernorth eyes an&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13811"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13811\/revisions"}],"predecessor-version":[{"id":13812,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13811\/revisions\/13812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11665"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}