According to ChainCatcher, XRP vault entity Evernorth, supported by Ripple, is preparing to list on NASDAQ through a SPAC merger, with the ticker symbol XRPN. The company holds 388 million XRP tokens, currently valued at approximately $812 million. CEO Asheesh Birla stated, "The timing couldn't be better, as we have the right regulatory environment, government support, and institutions ready to adopt." Despite recent valuation crashes in crypto reserve companies and many halting their crypto purchases, Birla emphasized that Evernorth not only provides XRP exposure but also handles custody, compliance, and security obligations.
Ripple-Backed Evernorth Prepares for Nasdaq IPO via SPAC
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Summary
Ripple-backed Evernorth is set to list on Nasdaq through a SPAC merger under the ticker symbol XRPN. The XRP custodian holds 38.8 million tokens, valued at approximately $812 million. CEO Asheesh Birla called the timing "perfect," citing a favorable government regulatory environment for cryptocurrency and increasing institutional adoption. He noted that Evernorth provides exposure to XRP while managing custody, compliance, and security.
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