Evernorth completes SPAC merger, holds $672 million in XRP and pursues yield strategy.

PANews October 12 news, according to The Block, XRP treasury company Evernorth has completed its SPAC merger and plans to list on Nasdaq. The company stated that it currently holds approximately $672 million in XRP assets and will further expand its XRP reserve scale through yield strategies in the future.

Evernorth stated that the company plans to use XRP for lending, liquidity provision, and other businesses to generate yield and increase the amount of XRP corresponding to each share. The company hopes to build an operating model similar to a digital asset treasury through active management of XRP assets.

In addition, Evernorth appointed former Coinbase Asset Management co-chief investment officer Hugo Jeandesboz as chief investment officer, responsible for investment strategy formulation and asset management. This personnel appointment and the completion of the SPAC merger mark Evernorth's further advancement of its treasury strategy with XRP as its core asset.