SBI Holdings CEO: Ripple should start preparing for IPO as soon as SEC issues are resolved

Yoshitaka Kitao, CEO of SBI Holdings, a large Japanese financial services institution, recently responded to a post on X that celebrated XRP's rise to the sixth largest cryptocurrency by market value, and said that Ripple should start preparing for an IPO as soon as the SEC issues are resolved. SBI Holdings has been working with Ripple since 2017 to promote innovation in cross-border payments. Kitao is a central figure in the Ripple-SBI collaboration and joined the Ripple board of directors in April 2019. His long-term support for Ripple and XRP dates back to 2017, when he predicted XRP as the global standard for digital currencies, emphasizing its efficiency, low transaction costs and scalability. Under Kitao's guidance, SBI integrated Ripple's solutions into its operations. This partnership has played an important role in expanding Ripple's influence in Japan and throughout the Asia-Pacific region. However, Ripple CEO Brad Garlinghouse has previously downplayed the urgency of seeking an IPO. He highlighted the company's strong financial position and said Ripple does not currently need to raise funds through the public markets. In addition, Garlinghouse pointed out that the challenging regulatory environment in the United States, which is largely affected by the ongoing dispute with the U.S. SEC, has put a damper on IPO plans. Although Ripple has explored the prospect of an international IPO, such initiatives remain on hold. (Bitcoin.com)