Evernorth Set to Become Public Company Through $1 Billion SPAC Merger
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 20 2025Evernorth's Merger Announcement: Evernorth, a Ripple-backed startup, is set to go public on Nasdaq through a $1 billion merger with Armada Acquisition Corp II, with a significant $200 million investment from SBI Holdings, aimed at enhancing XRP's institutional adoption.
Strategic Goals and Market Impact: CEO Asheesh Birla plans to establish Evernorth as a leading XRP management firm, leveraging traditional finance and decentralized finance strategies to generate returns for shareholders while supporting XRP's utility and market presence.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
