Key Takeaways
- Evernorth plans apparel and a public campaign featuring XRP community members.
- The company hopes to mark its proposed Nasdaq debut with a Times Square event.
- Armada shareholders are scheduled to vote on the merger Sept. 30.
Evernorth Puts XRP Supporters in Its Listing Plans
XRP supporters could have a visible role in Evernorth’s proposed Nasdaq debut. In a Sept. 23 blog post, founder and CEO Asheesh Birla said the XRP treasury company plans to bring community members into a campaign leading up to its expected listing under XRPN. The plans include apparel, a story released in chapters, and a possible finale in Times Square.
Birla framed the campaign as recognition for people who continued building tools, answering newcomers’ questions, and supporting XRP during difficult periods. “The list is missing you,” he wrote after describing the usual technical explanations for XRP’s appeal. His argument is that a community built over more than a decade is harder to replicate than fast settlement or low transaction costs.
The post also points to XRP holders’ participation in the Securities and Exchange Commission’s case against Ripple. Birla cited attorney John Deaton’s account that he submitted roughly 3,800 holder affidavits. The long-running XRP legal dispute gives that reference its context: holders organized to make their views known while the case tested how federal securities law applied to Ripple’s XRP transactions.
A Community Campaign on the Road to Nasdaq
Evernorth’s Sept. 23 post on X introduced its collaboration with BearChamp, a boxing character created by Chicago artist JC Rivera. The company plans apparel and storytelling around the character as it approaches the proposed listing. Birla described BearChamp as the first community figure in the campaign and indicated that others would follow.
Rivera created the character after his mother discouraged his childhood ambition to box, according to Birla’s account. Evernorth has drawn a parallel between the character’s persistence and the XRP community’s response to setbacks. The company says the campaign could culminate in a Times Square presentation if its listing plans proceed. Those events remain plans tied to a transaction that has yet to close.
The proposed listing would follow Evernorth’s merger with Armada Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company. An August update on the merger reported that Evernorth’s registration statement had become effective, clearing the way for a shareholder vote. The combined company expects to trade as XRPN if the transaction closes and it meets Nasdaq’s listing requirements.
The XRP Treasury Behind the Celebration
Evernorth’s listing announcement describes a business built around holding and actively managing XRP. The company intends to allocate capital to XRP-based infrastructure and pursue strategies designed to increase its XRP holdings per share over time. That operating plan is separate from the community campaign, although Birla connected both to participation in the XRP ecosystem.
In the Sept. 23 post, Birla said Evernorth intends to work directly with builders on the XRP Ledger, the network on which XRP is the native asset. He pointed to permissioned trading venues, native escrow, on-chain lending, and a regulated dollar stablecoin as infrastructure that has grown on the ledger over the past two years. The company has described its treasury as an active operation rather than one focused primarily on buying and holding XRP.
Evernorth also has a $30 million convertible-note agreement whose proceeds could support XRP purchases and other ecosystem activity. That financing depends on the Armada merger closing. Armada shareholders are scheduled to vote on the transaction Sept. 30; completion and the planned Nasdaq listing remain subject to the vote and other conditions.
