Evernorth shareholders approve XRP treasury deal for Nasdaq listing
Evernorth is moving toward a Nasdaq debut after shareholders approved its business combination, advancing plans for the XRP-focused treasury company to enter public markets. The transaction is expected to close on Oct. 7 and would leave the combined company holding about 473 million XRP after cash proceeds and in-kind token contributions at closing.
Highlights
- Evernorth shareholders approved a treasury deal expected to generate about $300 million in gross cash proceeds and in-kind XRP contributions.
- The combined company plans to list on Nasdaq under the ticker XRPN on Oct. 8, offering regulated exposure to XRP for public investors.
- Major backers include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, strengthening institutional support for Evernorth's XRP-based treasury model.
Listing timeline and transaction structure
According to The Block, the company said the deal is expected to generate about $300 million in gross cash proceeds, while investors are also contributing XRP in kind as part of the closing process. Evernorth currently holds about 347 million XRP tokens ahead of those expected contributions, based on the information released with the transaction update.The combined company is set to begin trading on Nasdaq under the ticker XRPN on Oct. 8, if the closing proceeds as planned. Chief Executive Asheesh Birla said in a release that the public listing is intended to give investors a regulated and transparent route to XRP exposure while linking that offering to broader blockchain economy growth.
Crypto market access and investor backing
Evernorth is positioning itself alongside spot XRP exchange-traded funds as another regulated path for investors seeking exposure to the token. The structure gives public market investors access through a listed corporate vehicle rather than direct token ownership.The investor base behind the company includes Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR. Their backing adds to institutional support for a treasury model centered on XRP as the company prepares to enter public trading.
Our earlier report on NSE’s corporate bond index futures explained that the exchange received SEBI’s no-objection certificate to introduce a new exchange-traded product designed to improve corporate bond risk management, hedging, and price discovery. We noted that the launch still depends on RBI approval and is positioned as a step toward deeper liquidity and broader institutional participation in India’s fixed-income market.
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