Evernorth Plans SPAC Listing with Significant XRP Holdings

Evernorth has announced its intention to launch with a substantial holding of at least 473 million XRP, valued at approximately $685 million, as part of its planned SPAC listing. According to NS3.AI, the company has secured over $1 billion to establish its XRP treasury. Evernorth aims to go public through a business combination with Armada Acquisition Corp. II, which is listed on Nasdaq under the ticker XRPN. The proposed transaction is subject to review by the SEC and requires shareholder approval. Evernorth plans to actively manage its treasury, seek DeFi yield opportunities, and initially expand its operations into Japan and South Korea.