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Former Ripple executive Asheesh Birla’s XRP treasury firm Evernorth targets Oct. 8 Nasdaq debut as XRPN with about 473M XRP

AI Market Summary
Evernorth, founded by former Ripple executive Asheesh Birla, expects to complete its deal Oct 7 and list on Nasdaq as XRPN on Oct 8, built around ~473M XRP. The structure enables raising traditional-market capital to acquire XRP and deploy it in the XRP ecosystem to generate returns and potentially increase XRP per share. Backing from Ripple, SBI, Pantera, Kraken and GSR strengthens institutional signaling and access.
Impact level
● High
Affected assets
XRP/USDT-1.61%
AI Insight · XRP/USDTAI Insight
▲ Bullish
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Evernorth, an XRP treasury company founded by former Ripple executive Asheesh Birla, is expected to close on October 7 and start trading on Nasdaq as XRPN on October 8. The company holds about 473 million XRP and says it can raise funds in traditional markets to buy XRP and deploy it in the XRP ecosystem to generate returns, aiming to increase XRP held per share. A previous $214 million financing was converted into more than 84 million XRP, and backers include Ripple, SBI, Pantera Capital, Kraken and GSR.
XRP
XRP-1.55%
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