Evernorth Holdings, a company focused on XRP treasury, saw its shares rise by 5% during its debut on the Nasdaq stock exchange this Monday. The company went public following a merger with the blank-check firm Armada Acquisition Corp. II, which was approved by shareholders on October 2.
The company manages approximately 473 million XRP tokens, valued at $657 million, positioning itself as the largest publicly traded XRP treasury entity. Evernorth utilizes its holdings to generate income through various decentralized finance yield strategies.
Hugo Jeandesboz, formerly the co-chief investment officer at Coinbase Asset Management, has been appointed as the new chief investment officer for Evernorth. He will oversee treasury allocation, liquidity management, and the active administration of the company's XRP assets.
