Evernorth Holdings is now trading on Nasdaq with the ticker XRPN after merging with Armada Acquisition Corp. II. The change took effect on October 30, 2025, marking Armada’s shift into a company that manages large XRP holdings. The merger follows a $1 billion purchase of XRP, making Evernorth one of the biggest holders of the token.
According to a press release, Armada, a special purpose acquisition company sponsored by Arrington XRP Capital, confirmed that its Nasdaq ticker has officially changed from AACI to XRPN. Its units and warrants also now trade under XRPNU and XRPNW.
This transition completes the merger deal signed earlier between Armada and the newly formed Nevada-based Evernorth Holdings. The partnership raised more than $1 billion in gross proceeds to fund open-market XRP purchases.
Michael Arrington, founder of Arrington Capital and chairman of Armada, said the shift represents a major step for XRP’s institutional presence.
“As longtime supporters of XRP, we believe Evernorth will drive meaningful shareholder value and solidify XRP’s place in the digital asset economy,” he said. Evernorth’s growing list of partners includes Hidden Road, GTreasury, and Standard Custody, which all support XRP’s ecosystem.
Evernorth’s XRP treasury now holds over 388 million tokens, bought from Ripple Labs, Uphold, and Ripple co-founder Chris Larsen. The company now stands alongside others such as VivoPower International and Trident Digital Tech Holdings, which are also setting aside digital assets as part of their plans for the future.
Notably, the debut comes as more big investors are showing interest in XRP. Several firms, including Grayscale, Bitwise, Franklin Templeton, and 21Shares, have updated their filings for possible XRP exchange-traded funds (ETFs). These updates show that confidence in XRP’s growth is rising.
At the same time, CME Group has started offering XRP options trading, which adds even more interest around the token. Since May, it has processed over 567,000 XRP futures contracts, worth about $27 billion. The exchange called this “evidence of deep institutional interest” in XRP’s long-term growth.
The launch of Evernorth on Nasdaq marks another step for XRP’s expanding role in global finance.
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