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Deal To Create Huge XRP Treasury
Newly created Evernorth Holdings Inc. will merge with Armada Acquisition Corp II, a Nasdaq-listed special-purpose acquisition firm (SPAC). When the deal closes within the first quarter of 2026, the mixed firm will hold the Evernorth title and “is predicted” to commerce on Nasdaq underneath the ticker image XRPN, in accordance with a Monday press launch from Evernorth.
The transaction is predicted to generate greater than $1 billion in gross proceeds, together with a $200 million dedication from Japan’s SBI Holdings. Further backing is predicted from Ripple, Pantera Capital, Kraken and GSR, with participation from Ripple co-founder and Govt Chairman Chris Larsen, the announcement mentioned.
The corporate indicated that a lot of the web proceeds might be used to buy XRP on the open market to determine an institutional treasury, with the rest earmarked for working capital and bills.
As a substitute of monitoring the asset passively, the corporate says it plans to lend to establishments, present liquidity and take part in decentralized-finance alternatives to generate yield.
 
“Evernorth is constructed to offer traders extra than simply publicity to XRP’s worth,” mentioned Evernorth CEO Asheesh Birla. “As we capitalize on present TradFi yield era methods and deploy into DeFi yield alternatives, we additionally contribute to the expansion and maturity of that ecosystem. This method is designed to generate returns for shareholders whereas supporting XRP’s utility and adoption.”
The announcement follows current reviews that Ripple is about to boost roughly $1 billion through XRP gross sales to create its personal digital-asset treasury, combining newly acquired tokens with a part of its present stack.
Individually, Ripple just lately agreed to purchase company treasury administration platform GTreasury, in a $1 billion deal aiming to develop its enterprise liquidity and fee infrastructure.
Within the meantime, different corporations, together with Webus and Trident Digital, have introduced XRP-focused treasury methods, highlighting skyrocketing institutional curiosity within the cross border funds token.
