XRP institutional access moves toward public markets
Ripple-backed Evernorth Holdings, a startup enabling the adoption of XRP on an institutional scale is moving closer to a potential public listing.
The company has filed a Form S-4 registration statement with the US Securities and Exchange Commission (SEC), a move which forms part of Evernorth’s previously announced proposed business combination with Armada Acquisition, a fintech-focused SPAC.
“We believe global finance is entering a new era with digital assets playing a larger role in how capital is held, managed and deployed,” said Asheesh Birla, founder and CEO of Evernorth.
“Evernorth is being built to participate in that evolution. Our focus is on combining public-market discipline with XRP blockchain-based financial infrastructure to help shape a more transparent, efficient and connected global financial system.”
The filing marks Evernorth’s first formal disclosure of its business model, strategy, financials, leadership team and long-term vision.
Michael Arrington, founder of Arrington Capital, parent company of Armada Acquisition, said: "Evernorth continues to emerge as a key gateway for capital markets, underscoring XRP's rising influence in bridging traditional finance and real-time innovation."
Evernorth has raised over billion in gross proceeds, positioning it to become the largest public XRP treasury company on Nasdaq, backed by institutional investors including Ripple, SBI Holdings and Pantera Capital.