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flag Evernorth, backed by Ripple, is going public via a SPAC merger to let investors gain XRP exposure without owning it directly.

flag Evernorth Holdings, backed by Ripple, has filed for a Nasdaq IPO via a merger with SPAC Armada Acquisition Corp. II, aiming to raise over $1 billion. flag The company, which holds 473 million XRP, plans to actively grow its holdings through DeFi strategies and institutional lending. flag The move follows a joint SEC-CFTC statement classifying XRP as a digital commodity, removing prior securities concerns. flag The IPO, pending SEC and shareholder approval, would allow public investors to gain exposure to XRP without direct ownership.

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