Recently, $XRP became relevant to Brazil’s financial landscape because CSD-BR, Brazil’s central securities depository, began a process to integrate and mirror investment funds directly on the XRP Ledger. 🇧🇷
In this context, keeping an eye on #XRP ’s moves could point to opportunities. 👀
Evernorth is a company that pools money to buy and hold XRP, the digital currency associated with Ripple. 💰 It was previously private, open only to large investors. To go public, it joined forces with a shell company that was already listed, Armada. The shell company’s owners approved the merger at the end of September. ✅
If everything goes as planned, the deal will close tomorrow. The day after tomorrow, Evernorth will begin trading on Nasdaq, the U.S. stock exchange, under the ticker XRPN. Anyone with a brokerage account will be able to buy shares. 📈
In practice, buying a share doesn’t mean buying XRP directly. It means buying a stake in a company that holds around 473 million XRP, plus about US$300 million in cash. Ripple, Kraken, and other major industry players are behind it. 🏦
It’s like a company that exists solely to keep gold in a vault, except the vault holds XRP. That doesn’t guarantee the price will rise. It’s simply a new way for people outside the crypto market to gain exposure to the currency through the stock exchange. 🪙
#evernorthxrptreasurycompletesspacmerger
In this context, keeping an eye on #XRP ’s moves could point to opportunities. 👀
Evernorth is a company that pools money to buy and hold XRP, the digital currency associated with Ripple. 💰 It was previously private, open only to large investors. To go public, it joined forces with a shell company that was already listed, Armada. The shell company’s owners approved the merger at the end of September. ✅
If everything goes as planned, the deal will close tomorrow. The day after tomorrow, Evernorth will begin trading on Nasdaq, the U.S. stock exchange, under the ticker XRPN. Anyone with a brokerage account will be able to buy shares. 📈
In practice, buying a share doesn’t mean buying XRP directly. It means buying a stake in a company that holds around 473 million XRP, plus about US$300 million in cash. Ripple, Kraken, and other major industry players are behind it. 🏦
It’s like a company that exists solely to keep gold in a vault, except the vault holds XRP. That doesn’t guarantee the price will rise. It’s simply a new way for people outside the crypto market to gain exposure to the currency through the stock exchange. 🪙
#evernorthxrptreasurycompletesspacmerger
