A major milestone is on the horizon for XRP investors. According to crypto commentator and XRP advocate Kenny Nguyen, the Evernorth XRP Treasury—trading under the ticker XRPN—will launch on the Nasdaq at 9:30 AM ET on Monday, October 12.
Nguyen characterized the event as massive, reflecting his excitement about what he considers a milestone moment for the digital asset.
What Nguyen Shared
In his post, Nguyen included excerpts from Evernorth’s official messaging. The statements emphasize that XRP boasts “one of the few digital assets with a recognized regulatory framework in the U.S.,” alongside a track record of over ten years of uptime. The text also points to the asset’s robust liquidity and expanding decentralized finance (DeFi) ecosystem as primary advantages.
Asheesh Birla, CEO of Evernorth, explained that the firm’s framework is designed to provide “more than just exposure to XRP’s price.” Birla highlighted traditional finance yield tactics and DeFi integration as active mechanisms the company will employ to create shareholder value and simultaneously bolster XRP’s utility, describing the approach as “a symbiotic model.”
Nguyen’s update emphasized what Evernorth offers to both individual and institutional participants, noting the firm’s intention to actively expand the value of its XRP reserves.
The Path to the Nasdaq Listing
The upcoming Nasdaq debut has experienced a slight scheduling shift. Evernorth and Armada Acquisition Corp. II initially planned to close their merger on October 7, with trading to commence on October 8. However, an administrative hold caused a rescheduling, moving the merger completion to October 9 and the trading rollout to October 12.
Evernorth assured stakeholders that the postponement would not affect the underlying transaction. Investors voted to approve the combination on September 30, overcoming the primary regulatory hurdle prior to going public.
The deal aims to secure roughly $300 million in gross cash proceeds. Evernorth currently maintains around 473 million XRP. The company’s supporters feature prominent names such as Ripple, SBI Group, Pantera Capital, Arrington Capital, Kraken, and GSR.
Community Reacts
The XRP community is actively following the developments. One commentator voiced eager anticipation leading up to the launch. Another pointed out the strong tailwinds gathering behind XRP in the current climate. A third acknowledged the importance of the forthcoming market activity while emphasizing that the ultimate results are still pending.
The Stage Is Set for October 12
XRPN is scheduled to begin trading on the Nasdaq on October 12. Following its debut, Evernorth will function as a publicly listed entity bound by SEC reporting rules and Nasdaq transparency regulations. As a result, both retail and institutional participants will be able to access regulated XRP exposure via conventional brokerage accounts.
With its active treasury management approach and backing from heavyweight institutional investors, Evernorth’s market entry marks a significant development for XRP’s integration into traditional financial markets.