Ripple-Backed Evernorth Set for Nasdaq Debut With 473 Million XRP

Ripple-backed XRP treasury company Evernorth is entering a new chapter as its Class A common stock prepares to trade on the Nasdaq Stock Market under the ticker symbol XRPN. The milestone marks a significant development for institutional XRP adoption and the broader XRP Ledger (XRPL) ecosystem.

Hussein Zangana, known as Vet, director of community at the XRP Ledger Foundation, highlighted the upcoming listing in a recent post on X. He described the occasion as a major moment for Evernorth and the XRP community.

"Today is Evernorth day," Vet wrote, indicating that trading was expected to begin shortly after his announcement.

He clarified that the Nasdaq listing involves Evernorth itself rather than the special purpose acquisition company (SPAC) used to complete its public market transaction.

The listing represents an important step for XRP-focused investment opportunities. Evernorth aims to become a publicly traded company actively involved in XRP Ledger infrastructure, liquidity management, and yield-generating strategies.

Initially, Evernorth planned to complete its transaction on October 7, 2026, with Nasdaq trading scheduled for October 8. However, an administrative delay pushed back the timeline.

On October 9, the company confirmed that it had finalized its business combination with Armada Acquisition Corp. II. Trading under XRPN was subsequently scheduled to begin on October 12, subject to Nasdaq listing requirements.

The transaction followed shareholder approval of the business combination during Armada II's extraordinary general meeting on September 30, 2026.

With approximately 473 million XRP in its treasury, Evernorth is positioned as the largest publicly traded pure-play XRP treasury company.

Unlike traditional cryptocurrency investment vehicles that primarily provide price exposure, Evernorth plans to increase its XRP holdings per share through yield strategies, participation in the XRP Ledger ecosystem, and capital markets activities.

The company's Nasdaq debut could provide investors with another avenue to gain exposure to XRP through publicly traded equities while supporting broader institutional engagement with blockchain infrastructure.

Meanwhile, Evernorth is preparing a community celebration to mark its first week as a public company. According to its official X account, the final chapter of Bear Champ XRPL and Evernorth will premiere in New York City's Times Square on October 14 at approximately 4 p.m. ET.