SBI Chairman Doubles Down on Ripple and XRP Support

Yoshitaka Kitao, Chairman and CEO of SBI Holdings, reaffirmed his confidence in Ripple’s future during his address at FIN/SUM’s Core Week. Reflecting on his long-term investment in the company, he acknowledged the legal challenges Ripple has faced but emphasized that it is now on a strong path toward expansion.

Ripple’s Legal Struggles Near Resolution

Kitao highlighted the series of lawsuits that Ripple has encountered over the years, particularly its legal battle with the U.S. Securities and Exchange Commission (SEC), which began in 2020. Despite these hurdles, he believes the company is finally approaching a resolution, offering a more promising outlook for its operations.

The optimism surrounding Ripple’s legal standing is largely due to its ongoing settlement discussions with the SEC. With the regulatory agency demonstrating a shift in approach under new leadership, several crypto firms—such as Coinbase, Robinhood, and Gemini—have recently seen lawsuits against them dismissed. Market participants now anticipate a similar outcome for Ripple, although negotiations are reportedly delayed due to disputes over potential fines and the classification of XRP.

As the case nears a possible conclusion, attention is shifting from litigation concerns to Ripple’s prospects for wider adoption and institutional partnerships.

SBI and Ripple’s Expanding Collaboration

SBI Holdings has been a key supporter of Ripple since 2012, holding a 9% stake in the company and playing a central role in its expansion into the Asian market. In 2016, SBI Ripple Asia was established to drive blockchain-based financial solutions in the region. The partnership further expanded in 2021 with the introduction of XRP-powered remittance services through SBI Remit.

SBI and Ripple plan to explore new opportunities, including the launch of non-fungible tokens (NFTs) on the XRP Ledger (XRPL) at Expo 2025. SBI Group is also focused on increasing its international presence, aiming to boost its overseas revenue share from the current 10% to 20-30% in the coming years.

Kitao remains a strong advocate of blockchain technology, calling it “the most revolutionary innovation of the century.” He reaffirmed SBI’s commitment to advancing Web3 technologies, positioning the company as a leader in the evolving digital economy.

SBI’s Vision for the Future

SBI Holdings is currently transitioning from what Kitao described as “Fintech 1.0” to “Fintech 2.0.” This strategic shift involves leveraging blockchain, artificial intelligence, and other emerging technologies to redefine financial services. The company aims to integrate these advancements into its core business model to enhance efficiency and create new growth opportunities.

U.S. Crypto Regulations Under the Trump Administration

In addition to discussing Ripple’s trajectory, Kitao also touched on the evolving regulatory environment in the United States. He pointed to key policies introduced under former U.S. President Donald Trump, such as the establishment of a Bitcoin Strategic Reserve and the prohibition of central bank digital currencies (CBDCs) within the country.

Kitao views these developments as indications of a broader shift toward decentralized financial systems, reinforcing the long-term potential of blockchain technology. His remarks underscore SBI’s commitment to staying at the forefront of digital asset innovation as the industry continues to evolve.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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