David Schwartz Announces New Role with Evernorth
The XRP community received an update regarding David “JoelKatz” Schwartz’s next professional endeavor. In a post on X, Schwartz announced his decision to join Evernorth as a strategic advisor. This move signifies his first public professional step following his departure from the role of Ripple’s Chief Technology Officer.
Schwartz elaborated that Evernorth, an entity founded by his associate Ashgoblue, is structured as a regulated and scalable investment platform. Its primary objective is to broaden XRP's integration within decentralized finance and capital markets. Schwartz conveyed his enthusiasm for this new phase, stating that the project aligns with his long-held vision of expanding XRP's presence in global financial systems.
Evernorth Plans Nasdaq Listing and Significant XRP Investment
Evernorth has announced its intention to pursue a Nasdaq debut, having entered into a business combination agreement with Armada Acquisition Corp II, a special purpose acquisition company already listed on Nasdaq. This strategic merger is projected to generate over $1 billion in capital, establishing one of the largest public entities focused on XRP treasury management. Upon completion of the merger, the combined company is slated to trade on the Nasdaq under the ticker symbol “XRPN.”
This initiative positions Evernorth as a crucial conduit between digital assets and traditional financial markets. By offering regulated investment products centered around XRP, the company aims to attract institutional investors and foster greater participation within the rapidly expanding digital asset sector. Schwartz's appointment to a strategic advisory role is seen as a significant enhancement to Evernorth's leadership and its overall strategic trajectory.
Support from Ripple and Major Investors for Evernorth's Expansion
Ripple has joined a prominent consortium of investors in providing backing for Evernorth Holdings Inc. This Nevada-based corporation is dedicated to promoting institutional adoption of XRP. Among the other notable investors supporting Evernorth are Rippleworks, Pantera Capital, Kraken, GSR, and Ripple co-founder Chris Larsen. This collective backing underscores substantial institutional confidence in Evernorth's mission and strategic objectives.
David Schwartz's update to the XRP community signifies the commencement of a new phase in his professional career. His decision to serve as a strategic advisor for Evernorth highlights his continued commitment to advancing XRP's institutional growth and adoption.
With the backing of influential investors and a planned listing on the Nasdaq, Evernorth's emergence reflects a unified effort to strengthen XRP's position within the global financial landscape.