Armada Acquisition Corp. II (AACI) rebrands to XRPN on the NASDAQ exchange, signaling a significant shift in its strategy towards an institutional XRP digital asset treasury. The company’s new ticker will take effect on October 30, 2025. This strategic move follows a business combination agreement with Evernorth Holdings, Inc., a Nevada-based company committed to providing regulated exposure to XRP.
Evernorth, backed by Arrington XRP Capital Fund, aims to raise over $1 billion in gross proceeds for large-scale open-market purchases of XRP. The combined entity will establish itself as a leading institutional player in crypto finance, leveraging Evernorth’s regulatory expertise and the increasing demand for institutional XRP exposure.
The rebranding aligns with the company’s commitment to strengthening its ties within the XRP ecosystem. Evernorth will emerge as a publicly traded XRP treasury platform, offering investors a more liquid and compliant vehicle to access XRP. Unlike traditional ETFs, Evernorth intends to actively grow its XRP holdings by combining DeFi yield strategies, capital market operations, and participation within the XRP ecosystem.
The move underscores Armada’s confidence in XRP’s long-term institutional potential.
For instance, Kraken has expanded its US presence with a $100 million acquisition of Small Exchange, a CFTC-regulated derivatives platform. The company also secured a Designated Contract Market (DCM) license to offer more futures and derivatives options.
Armada Acquisition Corp. II announces ticker symbol change to XRPN on October 30, 2025: [https://t.co/AtkNPZfKaJ](https://t.co/AtkNPZfKaJ).