Evernorth debuted on the Nasdaq on October 12 under the symbol XRPN, following the completion of its merger with Armada Acquisition Corp. II on October 9. The company holds approximately 473 million XRP tokens, valued at around $672 million, along with $300 million in cash proceeds before fees. It appointed Hugo Jeandesboz, former co-chief investment officer at Coinbase Asset Management, as chief investment officer. Evernorth plans to increase XRP per share through yield strategies including token lending and liquidity provision. Its investors include Ripple, SBI Group, Arrington Capital, Pantera Capital, Kraken, and GSR.
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