Evernorth to Go Public on Nasdaq with Support from Ripple and SBI

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

DEFI+2.57%

XRP-1.743%

VSN-1.75%

Source: Coinmarketcap

Updated: Oct 21 2025

Evernorth's Nasdaq Listing: Evernorth is set to go public through a merger with Armada Acquisition Corp II, trading under the ticker "XRPN," aiming to raise over $1 billion, with significant backing from SBI Holdings and Ripple.
Institutional Investment Strategy: The funding will create a large XRP treasury and enhance institutional liquidity, allowing investors to gain exposure to XRP while benefiting from yield generation and ecosystem growth through active participation in lending and DeFi opportunities.
Leadership and Vision: Led by Asheesh Birla, a former Ripple executive, Evernorth's leadership team combines expertise in traditional finance and blockchain, with Ripple executives serving as strategic advisors to support the company's mission.
Focus on Ecosystem Growth: Evernorth aims to provide more than just price exposure to XRP, emphasizing the importance of contributing to the growth and maturity of the DeFi ecosystem while leveraging existing TradFi yield strategies.

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.

Evernorth to Go Public on Nasdaq with Support from Ripple and SBI

About the author

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