Japanese financial services group SBI Holdings confirmed its participation in a financing round for Evernorth Holdings Inc., a US company created to promote institutional adoption of the digital asset XRP. The investment is part of an agreement that will allow Evernorth to be listed on the NASDAQ stock market.
According to an official statement from SBI, the investment of USD 200 million in cash is part of a larger collection that will exceed USD 1,000 million. Other relevant firms in the digital asset ecosystem also participate in the operation, such as Ripple itself, Pantera Capital and Kraken.
The Funds raised will be used primarily for the purchase of XRP on the open marketwith the aim of building the world’s main treasury for this asset. Evernorth plans to not only hold XRP in its treasury, but also actively use it in decentralized finance (DeFi) and institutional lending to increase the value of its treasury.
As CriptoNoticias reported yesterday, The new company will be listed on the Nasdaq with the ticker “XRPN” after completing a business combination with Armada Acquisition Corp. II.
SBI Group, Ripple’s long-term partner, stood out that This investment strengthens its strategy to build an innovative financial ecosystem focused on digital assets.