Japan-based gaming company GUMI announced that it has joined Evernorth’s XRP-focused treasury initiative, led by SBI Holdings and Ripple Labs, as part of a public company private equity investment (PIPE).
According to the company's statement, the majority of the $5 million investment will be used to purchase XRP from the open market.
Evernorth's Vision for XRP Adoption
Evernorth is a startup aiming to drive enterprise-wide XRP adoption. The company plans to merge with a SPAC called Armada Acquisition Corp. II, trading on the Nasdaq under the ticker symbol “XRPN,” and raise more than $1 billion in total funding.
GUMI's investment announcement stated that the funds raised will be used to create one of the world's largest public XRP treasuries. This treasury will not only hold XRP but also aim to increase asset value through institutional lending and DeFi (decentralized finance) activities. It also claimed that all financial reports will be reviewed by an independent auditing firm, ensuring high transparency and governance standards.
GUMI's Rationale for Investment
“XRP is one of the few digital assets whose regulatory framework is beginning to be clarified in the US and whose usability in global payments has been proven. Investing in Evernorth offers a simple, high-liquidity investment opportunity in XRP within the framework of a regulated and audited public company.”
Furthermore, Evernorth’s activities will not be limited to market transactions only; it will also act as a validator to contribute to the growth of the XRP Ledger ecosystem.”