Nasdaq Welcomes 473M XRP Treasury as Evernorth Finalizes SPAC Merger
Photo: TheCoinrise
The completed deal gives XRP its first major corporate treasury vehicle trading on a US exchange. Evernorth has completed its merger with a special purpose acquisition company, according to CryptoPotato and CoinGape. The deal gives the Ripple-backed firm a listing on the Nasdaq exchange. It also places a treasury of 473 million XRP tokens directly within a publicly traded corporate structure. The merger follows the SPAC model, a route that lets private companies reach public markets faster than a traditional initial public offering. Firms merge with an already-listed shell company instead of running a full IPO process.
Source: TheCoinrise
