Evernorth Files for Public Listing, XRP Classified as Commodity
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Evernorth, a XRP-focused firm backed by Ripple Labs, has taken a significant step towards going public by filing a Form S-four registration statement with the SEC. This move clears the final regulatory hurdle in their plan to merge with Armada Acquisition Corp., aiming to list on the Nasdaq under the ticker XRPN. The merger is expected to bring in $1 billion, primarily for building a massive XRP treasury. Evernorth already holds 473 million XRP tokens, bought at an average price of $2.54 each, currently worth around $692 million. The SEC recently classified XRP as a digital commodity, not a security, which could boost Evernorths treasury plans as regulatory winds shift in cryptos favor.
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