Ripple-backed XRP vault entity Evernorth prepares for IPO, CEO says "there's no better timing"

ChainCatcher reports that Evernorth, an XRP treasury entity supported by Ripple, is preparing to go public on Nasdaq through a SPAC merger, with the trading code XRPN. The company holds 388 million XRP tokens, currently valued at approximately $812 million.

CEO Asheesh Birla stated: "The timing couldn't be more perfect. We have the right regulatory environment, government support, and institutions ready to adopt." Although crypto reserve companies have recently seen their valuations plummet and many have stopped purchasing cryptocurrencies, Birla emphasized that Evernorth not only provides exposure to XRP but also handles custody, compliance, and security obligations.