A brand new XRP treasury may very well be on the horizon, pushed by Ripple-backed Evernorth’s plans for an preliminary public providing (IPO) within the US. Evernorth introduced on Monday that it intends to go public on the Nasdaq via a merger with the blank-check firm Armada Acquisition Corp II, projected to boost over $1 billion in capital.
Evernorth’s $1 Billion Merger And XRP Treasury Launch
This strategic initiative comes within the wake of a big authorized victory for Ripple, because the US Securities and Alternate Fee (SEC) concluded a high-profile lawsuit that accused the corporate of promoting unregistered securities to institutional traders.
Below the present administration the regulatory company has taken a brand new crypto-friendly strategy, additionally dropping lawsuits towards different key gamers within the trade.
Evernorth has acknowledged that the anticipated merger, anticipated to be finalized within the first quarter of 2026, will set up it as the most important publicly traded XRP treasury firm. On the matter, Evernorth’s CEO Asheesh Birla acknowledged:
Evernorth is constructed to supply traders extra than simply publicity to XRP’s value. As we capitalize on present TradFi yield technology methods and deploy into DeFi yield alternatives, we additionally contribute to the expansion and maturity of that ecosystem. This strategy is designed to generate returns for shareholders whereas supporting XRP’s utility and adoption. It’s a symbiotic mannequin: our technique is designed to align with the expansion of the XRP ecosystem.
Ripple Co-Founder And Main Companies Be a part of The Enterprise
The fundraising effort additionally features a substantial $200 million funding from Japanese agency SBI, which has historic ties to SoftBank, in trade for fairness within the enterprise. Birla emphasised Evernorth’s intent to discover acquisition alternatives, stating that the corporate plans to construct out its funding crew because it grows.
The deal has garnered the participation of Ripple co-founder Chris Larsen, in addition to notable digital asset companies like enterprise capital agency Pantera Capital, and cryptocurrency trade Kraken.
This announcement follows Ripple’s latest acquisition of GTreasury, which was heralded as a big development in its progress technique.
Ripple goals to supply options that enable firms to unlock idle capital, leveraging the multi-trillion-dollar international repo market via partnerships, such because the one with prime dealer Hidden Street.
As Bitcoinist reported, this acquisition marks the blockchain fee firm’s third main transaction in 2025, following its earlier procurements of prime dealer Hidden Street and stablecoin platform Rail.
As of this writing, XRP is buying and selling at $2.47, up practically 3% over the previous 24 hours because the broader crypto market sees a slight restoration from final week’s crash, which introduced concern and uncertainty again to the trade.
Featured picture from DALL-E, chart from TradingView.com
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