CoinMeta data: According to The Block, XRP treasury company Evernorth has completed a merger with Armada Acquisition Corp and II. It currently holds approximately 473 million XRP, which is valued at around $672 million at current prices, in addition to about $300 million in cash. The company has also appointed the former Coinbase Asset Management co-CIO Hugo Jeandesboz as the investment director, responsible for treasury allocation, liquidity management, and active management of XRP. Evernorth plans to increase the number of XRP holdings per share through lending, liquidity provision, and other revenue strategies, and will list on NASDAQ after the merger is completed.