Evernorth Holdings Inc. and Armada Acquisition Corp II will merge to create a new publicly traded company, according to PR NewsWire. PR NewsWire The merger will generate $1 billion in gross proceeds, which will then be used to buy XRP, making it the biggest XRP treasury. Ripple and Ripple’s co-founder Chris Larsen joined in on this new company’s funding round, and Ripple CEO Brad Garlinghouse is set to be a strategic advisor to Evernorth. Another company that joined in on the funding round was SBI Holdings, investing $200 million. Other companies that contributed include Pantera Capital and GSR. Evernorth plans to actively manage its holdings through “lending, liquidity provision, and DeFi yield opportunities” as a way to push XRP adoption further. lending, liquidity provision, and DeFi yield opportunities Evernoth will appear on Nasdaq under XRPN. The deal is expected to go through in early 2026. Photo by Lo Lo on Unsplash Photo by Lo Lo on Unsplash Lo Lo Unsplash

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Evernorth and Armada Acquisition Corp II to Merge - Will Use $1 Billion to Create an XRP Treasury

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