Evernorth Holdings Inc., a digital asset firm backed by Ripple, is set to go public through a merger with Armada Acquisition Corp II. This plan, expected to be finalized in early 2026, will value the company at several billion dollars and raise more than $1 billion through the transaction. The listing on the Nasdaq under the ticker XRPN signifies Evernorth’s ambition to become a prominent player in the cryptocurrency market. The funding round is led by notable investors, including SBI Holdings, Ripple, Rippleworks, Pantera Capital, Kraken, GSR, and former Ripple co-founder Chris Larsen. Net proceeds will be dedicated to open-market XRP purchases, working capital, and general corporate expenses.