NewsBTC

3 November 2025

12 0

Evernorth to Merge with Armada, Plans $1B XRP Treasury by 2026

Evernorth, supported by Ripple, plans to merge with Armada Acquisition Corp II and list under the XRPN ticker. The SPAC deal is set to raise $1 billion to form a large XRP treasury. Ripple and co-founder Chris Larsen have contributed XRP to this initiative.

• After the SPAC announcement, Evernorth received $1 billion in XRP. The merger is expected to finalize in Q1 2026.
• The contributions were made in XRP, not cash, avoiding immediate pressure on exchange order books.
• SBI announced a $300 million cash pledge for potential market purchases.
• Vincent Van Code suggests an IPO could bring billions in new cash, potentially tightening XRP supply if used for open market buys.

Analysts highlight XRP's evolving role as a treasury asset within the XRP Ledger ecosystem. This narrative emphasizes XRP's potential beyond a payment bridge, suggesting it may become a significant store of wealth.