Something significant is approaching for XRP holders. Crypto pundit and XRP enthusiast Kenny Nguyen posted that Evernorth XRP Treasury, trading under the ticker XRPN, is set to go live on Nasdaq at 9:30 AM ET on Monday, October 12.
Nguyen described the event as huge. This shows his enthusiasm for what he sees as a landmark development for the asset.
What Nguyen Shared
Nguyen accompanied his post with material from Evernorth’s own communications. The text highlights XRP as “one of the few digital assets with a recognized regulatory framework in the U.S.” and cites its uptime of over a decade. It also highlights its deep liquidity and growing DeFi ecosystem as key strengths.
Evernorth’s CEO Asheesh Birla described the company’s model as one built to deliver “more than just exposure to XRP’s price.” Birla pointed to TradFi yield strategies and DeFi deployment as active tools Evernorth will use to generate shareholder returns while supporting XRP’s utility. He called it “a symbiotic model.”
Nguyen’s post spotlighted what Evernorth represents for institutional and retail investors. The company plans to actively grow the value of its XRP treasury.
The Path to the Nasdaq Listing
The Nasdaq debut did not arrive on its original schedule. Evernorth and Armada Acquisition Corp. II initially targeted October 7 for the merger close, with trading set to begin October 8. An administrative delay pushed both dates back. The merger closing date moved to October 9, and the trading launch shifted to October 12.
Evernorth confirmed the delay carried no expected impact on the transaction itself. Shareholders had already approved the merger on September 30, clearing the largest procedural hurdle ahead of listing.
The transaction is set to raise approximately $300 million in gross cash proceeds. Evernorth holds approximately 473 million XRP. Backers include Ripple, SBI Group, Pantera Capital, Arrington Capital, Kraken, and GSR.
Community Reacts
The XRP community has taken notice. One observer expressed anticipation ahead of the event. Another noted the strong momentum building around XRP in the current environment. A third acknowledged the significance of the upcoming price action while noting that the outcome remained to be seen.
The Stage Is Set for October 12
XRPN begins trading on Nasdaq on October 12. Once live, Evernorth will operate as a publicly traded company subject to SEC reporting and Nasdaq disclosure standards. Institutional and retail investors will gain regulated XRP exposure through standard brokerage accounts.
Evernorth’s active treasury strategy, backed by major institutional names, positions the listing as a notable event for XRP’s trajectory in traditional financial markets.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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