Evernorth Holdings Inc., backed by Ripple, plans to go public through a merger with AACI, raising over $1 billion. Funds will be used to establish the world’s leading institutional XRP treasury. Led by Asheesh Birla, Evernorth aims to grow XRP per share through institutional lending, liquidity provision, and DeFi yield opportunities. The deal is expected to close in Q1 2026.

Evernorth, a digital asset treasury company, focuses on institutional adoption of XRP. It aims to provide investors with transparent exposure to XRP while actively managing holdings through lending, liquidity provision, and DeFi strategies. This news was originally reported by TheStreet on Oct 20, 2025, in the MARKETS section.

Read more at Yahoo Finance: Ripple-backed XRP treasury firm eyes Nasdaq IPO