Oct 20 (Reuters) - Evernorth, a new crypto venture backed by digital asset firm Ripple, said on Monday it will list on the Nasdaq through a merger with blank-check firm Armada Acquisition Corp II (AACI.O), opens new tab and is expected to raise more than $1 billion in proceeds.

The digital asset treasury will focus on accumulating #xrp $XRP , a token linked to #Ripple and the fifth-largest cryptocurrency by market cap, according to data from #CoinGecko .