A Ripple-backed company poised to become what it calls the largest pure-play XRP treasury is set to begin trading publicly on October 8, after shareholders greenlit a key merger that clears its path to the market.
Shareholders Approve the Deal
Evernorth secured approval from shareholders for its merger with Armada Acquisition Corp. II, a special purpose acquisition company, marking the final hurdle before its public debut. The combination allows the firm to go public without the traditional IPO process, a route increasingly favored by crypto-focused ventures seeking faster access to markets.
With the vote behind it, Evernorth is scheduled to start trading on October 8, positioning itself as a dedicated vehicle for exposure to XRP, the token tied to Ripple's payments ecosystem.
Evernorth aims to be the largest pure-play XRP treasury as it steps into the public spotlight.
A Sizable XRP Stash
The company plans to debut with a treasury of roughly 473 million XRP, a holding that underscores its ambition to serve as a flagship corporate holder of the asset. The strategy mirrors a broader wave of digital-asset treasury firms that stockpile specific cryptocurrencies as their core business model.
Ripple's backing lends weight to the venture, tying Evernorth closely to one of the most prominent names in the XRP ecosystem. The arrangement reflects growing interest in building publicly traded companies centered on a single crypto asset.
Key details of the move include:
- Shareholder approval of the Armada Acquisition Corp. II merger
- A planned trading debut on October 8
- A treasury of approximately 473 million XRP
- Backing from Ripple
The listing adds to a trend of treasury-style companies entering public markets, giving investors a regulated avenue to gain concentrated exposure to a chosen token.