Japanese financial services group SBI Holdings has confirmed its participation in the financing round of Evanorth Holdings, a US company set up to promote institutional adoption of the digital asset XRP. The investment is part of an agreement that will enable Evernorth to list on the Nasdaq stock market.
According to an official statement from SBI, the cash investment of USD 200 million will be Large collection worth over $1 billion. Other related companies in the digital asset ecosystem also participate in operations, including Ripple itself, Pantera Capital, and Kraken.
loss Funds raised will be primarily used to purchase XRP on the open marketaims to build the world’s leading treasury of this asset. Evernorth not only holds XRP in its own treasury, but also plans to actively utilize it in decentralized finance (DeFi) and institutional lending to increase the value of its treasury.
As reported by CriptoNoticias yesterday, The new company will be listed on Nasdaq under the ticker “XRPN” Following the completion of our business combination with Armada Acquisition Corp. II.
SBI Group, a long-term partner of Ripple, emphasized: This investment strengthens our strategy to build an innovative financial ecosystem. Focuses on digital assets.