Ripple-Backed XRP Treasury Firm Evernorth Clears SEC Review, Nasdaq Vote Set for September 30
The SEC has cleared the registration paperwork for Evernorth's proposed merger with a shell company, paving the way for a shareholder vote on September 30 that would result in a Nasdaq listing under the ticker XRPN. Evernorth is backed by Ripple and is structured as an XRP treasury company.
The U.S. Securities and Exchange Commission has cleared the registration documents filed by Evernorth, a Ripple-backed company designed to hold XRP as a treasury asset. The regulatory clearance moves the transaction to its next milestone: a shareholder vote scheduled for September 30.
If shareholders approve the merger with the shell company, Evernorth would list on the Nasdaq exchange under the ticker symbol XRPN. The structure mirrors the model used by corporate bitcoin treasury vehicles, applied here specifically to XRP.
The SEC clearing the paperwork does not constitute an endorsement of the company or the asset, but it does remove a key procedural hurdle. A successful shareholder vote on September 30 would make Evernorth one of the first publicly traded XRP treasury companies on a major U.S. exchange, representing a meaningful step toward mainstream institutional access to XRP exposure through traditional equity markets.
Key facts
- •SEC has cleared Evernorth's merger registration paperwork
- •Evernorth is a Ripple-backed XRP treasury company
- •Shareholder vote is scheduled for September 30
- •Proposed Nasdaq listing ticker is XRPN
- •The structure uses a shell company merger to achieve the public listing