Ripple's 'North Star' XRP Hits Nasdaq: SEC Greenlights Evernorth's Billion-Dollar Merger
The U.S. Securities and Exchange Commission (SEC) has approved Evernorths Form S-4 registration statement. The decision removes the main legal obstacle to its merger with special purpose acquisition company Armada Acquisition Corp. II and opens a direct path for Evernorth to list on Nasdaq under the ticker XRPN. The transaction is expected to close in late Q3 or early Q4 2026 2026, while Armadas final shareholder vote is scheduled for Sept. 30. Evernorth is entering the public market with a digital reserve management model that differs from those of its competitors. Unlike companies such as Strategy, which passively accumulate Bitcoin on their balance sheets, Evernorth plans to actively manage its XRP treasury. Evernorth Holdings Form S-4 Amendment No. 7 filed with the SEC, Source: U.S. Securities and Exchange Commission According to a statement by company founder and CEO Asheesh Birla, the capital raised and hundreds of millions of XRP tokens will be deployed across blockchain infrastructure, including payment gateways, asset tokenization and on-chain lending. The strategy aims to generate yield within the ecosystem and use it to increase the number of tokens per company share. For Birla, a 12-year Ripple veteran, the project prompted him to leave the parent companys board of directors to develop









