Popular cryptocurrency trading platform Uphold has announced that Evernorth Holdings (XRPN), a publicly traded company backed by a massive XRP treasury, is now available for trading on its platform.
In a recent post on X, Uphold announced the new stock listing, describing XRPN as "the public stock backed by a corporate XRP treasury."
The platform confirmed that investors can now purchase fractional shares of Evernorth through the Uphold app.
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"New stock listing: $XRPN," Uphold wrote, directing users to its mobile application.
According to the announcement, securities are offered through Uphold Securities Inc., a registered broker-dealer and member of FINRA and SIPC. The shares are custodied by Apex Clearing Corporation.
The addition gives eligible Uphold users another way to gain exposure to the XRP ecosystem without purchasing the cryptocurrency directly.
Unlike XRP itself, XRPN represents equity ownership in Evernorth, meaning its performance depends on the company's valuation, treasury management and broader market conditions.
Evernorth's massive 473 million XRP treasury
The announcement comes shortly after Evernorth made its highly anticipated Nasdaq debut under the XRPN ticker on October 12.
The company completed its business combination with Armada Acquisition Corp. II on October 9, entering public markets with approximately 473 million XRP and roughly $300 million in gross cash proceeds before transaction expenses.
The transaction established Evernorth as one of the largest publicly traded corporate holders of XRP.
The company is led by former Ripple executive Asheesh Birla and counts Ripple, SBI Group, Kraken, Pantera Capital and other prominent cryptocurrency industry players among its investors.
However, Evernorth does not intend to simply hold XRP on its balance sheet.
On October 14, the company announced partnerships with Ripple, Kraken, Coinbase and BitGo to help deploy its enormous XRP treasury into institutional strategies beginning in the fourth quarter of 2026.
Its longer-term strategy involves generating returns through institutional lending, decentralized finance opportunities and other activities designed to increase the amount of XRP backing each share.
The Uphold listing represents another distribution milestone for the newly public company, making its shares accessible through a platform already closely associated with XRP trading.
However, investing in XRPN is not equivalent to holding XRP directly. In addition to fluctuations in the cryptocurrency's price, shareholders face risks associated with Evernorth's business operations and its active treasury strategies.