Ripple-Backed Evernorth Heads to Nasdaq Under Ticker XRPN
Evernorth faces a September 30 shareholder vote to finalize its shell merger and list on Nasdaq.
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Key takeaways
- The SEC cleared merger paperwork for Ripple-backed Evernorth.
- Shareholders will vote on the proposed merger on September 30.
- If approved, the XRP treasury firm will trade on Nasdaq under ticker XRPN.
Evernorth is right on Wall Street's doorstep.
The U.S. Securities and Exchange Commission just cleared the paperwork, allowing the Ripple-backed XRP treasury firm to merge with a public shell company. That regulatory green light sets up a final shareholder vote on September 30. If approved, the company lists on Nasdaq under the ticker symbol XRPN.
A Public Vehicle for XRP
Evernorth operates as a corporate treasury firm built specifically to hold XRP. Backed by Ripple, its structure lets investors grab equity exposure to XRP holdings through normal stock markets instead of buying crypto directly on an exchange.
Why it matters
MicroStrategy proved Wall Street has a serious appetite for corporate treasuries built around crypto assets. Evernorth is bringing that exact playbook to XRP. A Nasdaq listing gives institutional investors and traditional portfolios a regulated equity route to trade XRP exposure—no custody hassles, no crypto exchanges. If shareholders vote yes on September 30, XRP gets its first dedicated treasury vehicle on a major U.S. stock exchange.
Source: CoinDesk
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Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
