Evernorth CEO Discusses Shift in Institutional Investor Sentiment, Says Nasdaq Listing Is in Final Stages

Digital FinanceCorporate Action
โดย NADA NEWS·Read original
Summary · why it matters

Ashish Birla, CEO of Evernorth, a U.S. firm that holds and manages yield on the crypto asset XRP, told NADA NEWS that while institutional investors frequently declined to invest a decade ago, many financial institutions have now significantly changed their stance, with some even setting up dedicated blockchain teams. The company aims to list on Nasdaq through a merger with SPAC Armada Acquisition Corp. II, and Birla explained that the process is nearing its final stages, having just submitted an amended S-4 to the SEC on July 13. He also commented on the dollar-denominated stablecoin RLUSD, which began circulating in Japan in June via SBI VC Trade, expressing the view that utilizing the DEX on the XRP Ledger will make it easier for Japanese users to participate in the on-chain financial ecosystem. Furthermore, tokenized real-world assets on the XRP Ledger have surged 24-fold over the past 12 months to 3.6 billion dollars, and he predicted that within the next five to ten years, the majority of financial markets will be traded on blockchain.

Impact on stocks 1

Financials▲ · 1 stocks

Theme Impact 3

Off-coverage companies 2

Evernorth HoldingsPrivate▲ Positive
Capitalrelevance

Evernorth's Nasdaq listing is in final stages, with amended S-4 filed, positive for the company.

SBI VC TradePrivate▲ Positive
Demandrelevance

SBI VC Trade is distributing RLUSD stablecoin in Japan, expanding its business.

Related news

2impact 4

S&P Global Acquires OpenZeppelin to Rate Smart Contract Risk

S&P Global announced on September 17, 2026 that it has acquired OpenZeppelin, the industry standard for smart contract security, in a move that extends the ratings firm's risk-assessment mandate into the technology-risk layer of digital assets. OpenZeppelin's libraries underpin over $37 trillion in cumulative transfers and power 8 of the top 10 stablecoins, including USDC, and 10 of the top 10 tokenized money market funds, such as BlackRock's BUIDL and Franklin Templeton's BENJI. OpenZeppelin will operate as a separate business unit led by CEO Demian Brener, who will report directly to Yann Le Pallec, President of S&P Global Ratings. The deal lands on the same day the SEC granted a 5-year exemption for tokenized NMS stock trading, aligning with the broader GENIUS Act framework, and ahead of the DTCC Tokenization Service launch in October 2026. S&P Global is positioning itself as the gatekeeper of the technical standards regulators are expected to require for tokenized markets.
SPGI ▲
Digital Finance & Tokenization
Yahoo Finance·3hRead more →
▲impact 4

SEC Unveils Trading Framework for Tokenized Stocks, S&P Acquires OpenZeppelin, DeFi Market Cap Hits $80 Billion

The U.S. Securities and Exchange Commission introduced a provisional, conditional exemption allowing certain tokenized U.S.-listed equities to trade on-chain under specified conditions, while S&P Global agreed to acquire OpenZeppelin, a firm specializing in smart contract security infrastructure. The SEC measure, set out in a "Statement on Innovation Exemptions" signed by Commissioner Mark T. Ueda, guarantees holders of equity tokens the same rights as holders of conventional shares and requires third parties to notify the issuer of the underlying stock in writing before dealing in tokenized shares. According to S&P Global, OpenZeppelin's technology has supported the transfer of more than $37 trillion in value cumulatively, including major stablecoins and tokenized funds. Following these announcements, the market capitalization of DeFi-related tokens rose about $7 billion on Friday, climbing 8.8% to $79.8 billion, while the total market capitalization of the broader crypto market rose 4% to $2.7 trillion. Hyperliquid's HYPE jumped 10.8% to an all-time high of about $90.46, giving it a market capitalization of $20.12 billion; Uniswap's UNI rose 29.1% over 24 hours to about $9.00, for a market capitalization of $5.59 billion; and Aave's AAVE gained 9.5% to about $135.28. Bitwise Chief Investment Officer Matt Hougan said the SEC is trying to put in place as much of a crypto regulatory framework as it can under its existing authority, and described tokenization as a massive tide.
SPGI ▲
Digital Finance & Tokenization ▲
NADA NEWS·4hRead more →

CFTC Submits New Crypto Regulation Proposal to White House

The U.S. Commodity Futures Trading Commission submitted a regulatory proposal on crypto asset trading and markets to the White House for review on September 17. According to review records published by the Office of Information and Regulatory Affairs, which operates under the Office of Management and Budget, the item is under review at the "pre-rule stage" and is titled "Regulation of Crypto Asset Trading and Crypto Asset Markets." The public record does not indicate specific draft rules or which entities would be covered, and the submission does not mean a new rule has been finalized. To establish oversight rules for the crypto asset market, the CFTC and the U.S. Securities and Exchange Commission made Project Crypto a joint effort in January 2026, and in March they published interpretations and guidance on applying federal securities law to crypto assets; this submission is the CFTC's follow-on move toward rulemaking. Meanwhile, the CLARITY Act, which would set the SEC's and CFTC's supervisory scopes in law, has stalled, and the U.S. Senate on September 15 rejected a cloture motion to begin debate by a vote of 49 in favor to 50 against.
Digital Finance & Tokenization
NADA NEWS·5hRead more →
© 2026 MarketDXNews