Evernorth, a digital asset treasury firm managing XRP reserves, launched a Japanese-language account on X as it pursues a Nasdaq listing backed by more than $1 billion in committed capital. The expansion builds on SBI Holdings' $200 million anchor investment and Japan's early regulatory embrace of XRP.
Evernorth launched a Japanese-language account and is pursuing a Nasdaq listing backed by more than $1 billion, as the XRP treasury firm expands beyond U.S. regulatory headwinds.
"Japan believed in XRP early on. Together, we will build from here," Evernorth said in its opening post on the @evernorth_jp account, adding that the channel will provide market analysis without price forecasts.
The company plans to go public through a merger with Armada Acquisition Corp. II, trading on Nasdaq under the ticker XRPN. SBI Holdings committed $200 million as a lead anchor investor, joining Ripple, Pantera Capital, Kraken and Arrington Capital among the backers. Evernorth reported holding 473 million XRP in earlier filings.
The Japan expansion gives Evernorth a direct channel to a market where SBI already operates banking, securities and crypto businesses through SBI Ripple Asia, a joint venture formed in 2016. The Nasdaq merger remains subject to SEC approval and Armada shareholder vote, with no closing date set.
The company said its Japanese account will explain market movements in simple terms and deliver professional content, but will not discuss token prices. Evernorth's website lists San Francisco as its primary location, and the company has not disclosed plans for a local office, license or product launch in Japan.
Japan's significance to the XRP ecosystem stems from early regulatory clarity. While Ripple fought a years-long legal battle with the U.S. Securities and Exchange Commission over XRP's classification, Japanese authorities provided a clear regulatory framework. SBI Holdings has been a central driver, forming SBI Ripple Asia in 2016 to promote XRP for cross-border payments.
The Nasdaq listing, if completed, would create one of the largest publicly managed XRP treasuries. Evernorth's registration statement with the SEC is not yet effective, and the merger requires Armada shareholder approval along with other closing conditions. The company has not said how its Japanese presence will connect with Ripple and SBI's recent launch of the RLUSD stablecoin in Japan, which received approval from the Financial Services Agency in June.
This article is for informational purposes only and does not constitute investment advice.
