Cayman Islands Trademark Secures Legal Foundation Ripple-backed Evernorth has taken another step toward building a publicly traded $XRP treasury, registering its trademark in the Cayman Islan
Ripple-backed Evernorth has taken another step toward building a publicly traded $XRP treasury, registering its trademark in the Cayman Islands as its Digital Asset Treasury (DAT) initiative advances.
The Evernorth trademark has been publicly recorded in the Cayman Islands, with the filing handled by HSM IP Ltd., a Cayman-based intellectual property firm that frequently manages trademark registrations for companies operating in the jurisdiction.Public records show the word mark was registered under filing number T0004840, with an expiry date of April 1, 2036.
According to the Cayman Islands Gazette, the Evernorth word mark (No. T0004840) has been registered under Classes 36 and 42, covering a wide range of digital asset-related financial and technology services. Under Class 36, the trademark protects services related to digital asset portfolio creation and management, financial advisory and consulting for digital assets, digital asset treasury management, financial custody solutions, and investment strategy information for publicly traded investment funds.
The XRP Digital Asset Treasury is currently pursuing a business combination with Armada Acquisition Corp. II, a Cayman-domiciled SPAC. Establishing the trademark in the Cayman Islands complements this structure, as the jurisdiction is widely used by global investment vehicles due to its tax neutrality, asset protection framework, and efficient intellectual property and global licensing regime.
Evernorth Holdings and Pathfinder Digital Assets held about 473.1 million XRP as of the end of last year.Ripple contributed 126.8 million XRP to Pathfinder under a contribution agreement, while the sponsor separately contributed 211.3 million XRP through a Series C subscription tied to the broader deal.
Rather than operating as a passive investment vehicle, Evernorth plans to actively grow its XRP reserves. Its strategy includes institutional lending, liquidity provisioning, and participation in decentralized finance (DeFi) yield opportunities to generate additional returns on its holdings.
If the deal closes, the combined company will list under the ticker XRPN and operate as a publicly traded XRP treasury.The company said it has raised over $1 billion in gross proceeds to create the largest public XRP treasury company on Nasdaq.Investors in the transaction include Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital.
Sources:The Crypto Basic: Ripple-Backed Evernorth Registers Trademark in Cayman IslandsCoinDesk: Evernorth Unveils 473 Million XRP Treasury and DeFi StrategySEC Filing: Evernorth Holdings Inc. Form 425
