Evernorth to Trade on Nasdaq Under XRPN Code

Evernorth will become a publicly traded company on Nasdaq under the XRPN code if the agreement voted on by shareholders is accepted. The company plans to utilize the XRP asset within the XRP ecosystem instead of holding it as a passive balance sheet item, directing capital towards infrastructure and on-chain financial activities in this area. Evernorth has acquired or committed to acquiring 473,276,430 XRP following a $214 million purchase completed at the end of 2025. This stands out as one of the largest publicly disclosed institutional XRP positions. Evernorth's plan exemplifies a trend of public companies using XRP as a balance sheet asset. The company has made arrangements to align shareholders' economic interests more closely with the value of the XRP treasury. Additionally, it secured $30 million in convertible bond financing that could provide additional capital after the completion of the SPAC transaction. This funding is expected to be used for further XRP acquisitions. The new structure could provide an option for investors looking to access XRP through the stock exchange.

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