Evernorth Set to Become Public Through $1 Billion SPAC Merger
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 21 2025Evernorth's Nasdaq Listing: Evernorth plans to go public on Nasdaq through a $1 billion SPAC merger with Armada Acquisition Corp II, primarily to acquire XRP for institutional treasury purposes, with major backing from Ripple executives and investors like Pantera Capital and SBI.
Impact on XRP and Market Dynamics: The merger positions Evernorth as a leading publicly traded XRP fund, potentially enhancing XRP liquidity and institutional engagement in the crypto market, while also attracting regulatory scrutiny and prompting innovations in digital asset management.
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.
