EverNorth taps Ripple, Kraken, Coinbase and BitGo for XRP treasury
EverNorth (Nasdaq: $XRPN), the XRP treasury company, has named Ripple, Kraken, Coinbase and BitGo as its inaugural institutional partners to deploy its 473 million XRP treasury, worth roughly $648 million. The company said it will begin "institutional strategies" in Q4 2026, with a phased move into XRP lending and yield strategies following its Nasdaq debut.
- The partners will help put the treasury to work after EverNorth closed its SPAC merger with Armada Acquisition Corp. II and began trading on Nasdaq.
- EverNorth previously raised $30 million in convertible notes from NH Investment & Securities, with proceeds earmarked for XRP accumulation.
No details on specific allocations, lending structures or yield targets were disclosed.
Sources
- NEW: @Nasdaq listed @evernorthxrp names @Ripple, @Krakenfx, @Coinbase and @BitGo as inaugural institutional partners to deploy its 473M $XRP treasury. https://t.co/czhcUMB49Vx.com ↗
- MARKETS: XRP treasury firm @evernorthxrp's SPAC nearly quadrupled last week, with $XRPN briefly hitting $53 ahead of Wednesday's merger close. The combined company will hold 473M $XRP worth $714M and begins trading Thursday on @Nasdaq. https://t.co/fuE22cUcgux.com ↗
- LATEST: @evernorthxrp's Nasdaq listing under $XRPN is one shareholder vote away, with Armada Acquisition Corp. II shareholders voting September 30. https://t.co/3Okf0Ah19nx.com ↗
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