Evernorth Launches $1 Billion XRP Treasury with Ripple’s Support
- Evernorth is a new publicly traded digital asset treasury focused on accumulating the Ripple-linked asset, XRP.
- The firm aims to raise more than $1 billion in net proceeds through a business combination with Armada Acquisition Corp II, a SPAC.
- Contributions come from Ripple, co-founder Chris Larsen, and notable crypto firms like Pantera Capital and Kraken.
- Ripple executives, including CEO Brad Garlinghouse, will act as strategic advisors to Evernorth.
- The deal is expected to close in Q1 of 2026, making Evernorth the largest publicly traded XRP reserve.
Evernorth’s strategy not only focuses on accumulating XRP but also aims to foster the adoption of the XRP ecosystem by participating in validator operations and providing liquidity for market development projects. The firm will maintain independent governance while receiving strategic advisory from Ripple executives.
With over $1 billion planned for investment into XRP, Evernorth positions itself as a significant player in the cryptocurrency space, aligning with Ripple’s mission to expand XRP’s utility and adoption globally. (Source)
