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Kyobo AIM Asset Management, an affiliate of Kyobo Life Insurance, plans to invest about 40 billion won ($30 million) in Evernorth, a U.S. treasury company that manages XRP as a core asset, Minju Sinmun reported.
According to the U.S. SEC, Evernorth signed a $30 million convertible bond subscription agreement on Sept. 11 with KyoboAIM Corporate Finance General Private Equity Investment Trust No. 3, with NH Investment & Securities serving as custodian. Separately, Evernorth’s Nasdaq listing schedule has been delayed by four days, and the shares are expected to begin trading around Oct. 12 under the ticker ‘XRPN’.