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Ripple-Backed Evernorth Raises Over $1 Billion for Institutional XRP Exposure
Oct 21, 2025
< 1 min read
by Chayanika Deka
for CryptoPotato
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Evernorth Holdings Inc., a newly formed Nevada corporation that aims to enable institutional adoption of Ripple (XRP), has officially launched and entered a business combination agreement with Armada Acquisition Corp II, a publicly traded special purpose acquisition company (SPAC).
The company said it will combine public market access with an active treasury model to offer a unique bridge for institutional investors seeking regulated, scalable exposure to the crypto asset.
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