Something notable happened inside the XRP community on October 1. XRPL validator Vet (@Vet_X0) shared his impressions of Evernorth and its leadership. He believes founders Asheesh and Sagar a
Something notable happened inside the XRP community on October 1. XRPL validator Vet (@Vet_X0) shared his impressions of Evernorth and its leadership. He believes founders Asheesh and Sagar are in “full builder mode.”
Evernorth is the Ripple-backed company working to become the first publicly traded XRP treasury on Nasdaq. It plans to merge with Armada Acquisition Corp. II under the ticker XRPN. Shareholders voted on the business combination on September 30.
The SEC declared Evernorth’s Form S-4 registration statement effective on August 27, clearing the regulatory path for that vote.
Evernorth is going to participate on the XRP Ledger to accumulate XRP through yield strategies and other capital market activities.
I don't think people realize how big this is for a network and a community whose time has come. We talked a lot about bootstrapping in the past.…
— Vet (@Vet_X0) October 1, 2026
Vet’s post focused on specifics. Evernorth plans to participate directly on the XRP Ledger to accumulate XRP through yield strategies and other capital market activities. This puts Evernorth in a different category from passive crypto treasuries. The company intends to actively deploy capital within the XRP ecosystem rather than hold the asset.
Vet described this as significant for “a network and a community whose time has come.” He linked it to past discussions about bootstrapping, suggesting that on-chain institutional activity from a public company represents a meaningful development for XRPL’s growth.
Several XRP community members responded to Vet’s post with substantive takes. CryptoSensei, a popular figure in the community, said Evernorth participating directly on XRPL changes the scale of the conversation and called the builder activity around the ecosystem very interesting.
Another asked when Evernorth would start buying, reflecting interest in the timeline for on-chain activity. One commenter questioned whether Evernorth’s emergence alongside Firelight was a coincidence.
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One commenter pushed back against those making price predictions for XRP based on Evernorth’s moves. He believes this development is much bigger.
Armada II shareholders approved the merger. The deal is expected to close October 7, with XRPN trading on Nasdaq set to begin October 8, pending final closing conditions. Once listed, Evernorth will begin deploying capital on the ledger through yield strategies and capital market activity.
The company expects to hold about 473 million XRP at closing, which would make it the largest publicly traded pure-XRP treasury company.
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