XRP News: Evernorth Set to Launch 473M XRP Treasury on Nasdaq Gets SEC Clearance

Evernorth Holdings has cleared a major regulatory step toward becoming a publicly traded XRP treasury company. The SEC declared its Form S-4 registration effective on August 27, 2026, moving the Ripple-backed firm closer to a Nasdaq listing and its planned $1 billion XRP treasury.

This gives investors a new way to gain exposure to XRP through public markets.

Evernorth Moves Closer to Nasdaq With SEC Clearance

The SEC’s decision allows Armada Acquisition Corp. II shareholders to vote on the proposed business combination. The next key step is a shareholder vote on September 30, 2026. 

If shareholders approve the deal and other closing conditions are met, the combined company is expected to begin trading on Nasdaq under the ticker XRPN in late Q3 or early Q4 2026.

Evernorth CEO Asheesh Birla called the SEC clearance an important step toward the planned deal.

“Today marks an important milestone toward completing our proposed business combination.”

Evernorth Plans a 473M XRP Treasury

The bigger part of the deal is Evernorth’s XRP treasury. The company plans to launch with around 473 million XRP, which would make it the largest publicly traded XRP treasury vehicle if the merger is completed. 

The deal is also expected to generate more than $1 billion in gross proceeds, with major backers including Ripple, SBI Group, Pantera Capital, Kraken and GSR.