Ripple-Backed Evernorth Raises Over $1 Billion for Institutional XRP Exposure

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.