SBI Holdings CEO Yoshitaka Kitao has clarified that the Japanese financial giant holds a 9% equity stake in Ripple Labs, countering market speculation that it owned $10 billion in XRP directly. The revelation shifts focus from direct XRP holdings to a strategic equity investment with potentially massive upside.
Hidden Asset Worth Over $10 Billion
Kitao emphasized that SBI's stake in Ripple could represent a hidden asset exceeding $10 billion, particularly if Ripple pursues a public listing. This equity exposure positions SBI to benefit from Ripple's ecosystem growth rather than relying solely on XRP price movements. With ¥10 trillion ($70 billion) in assets under management, SBI is leveraging its stake to build a dominant digital asset business.
Asia Expansion: Coinhako Acquisition and Crypto ETF
SBI announced plans to acquire a majority stake in Singapore-based crypto platform Coinhako, strengthening its Southeast Asian footprint. The firm also aims to launch a Crypto Asset ETF in Tokyo, featuring Bitcoin (BTC) and XRP, pending regulatory approval. These moves align with SBI's strategy to create a comprehensive digital asset network across Asia, including tokenized stocks and stablecoins.
Market Reaction: XRP and BTC Rise Modestly
Following the news, XRP and BTC rose 0.92% and 1.45% respectively, reflecting positive market sentiment. Analysts suggest that monetizing the Ripple stake through an IPO could provide substantial capital for SBI's regional expansion.
SBI Holdings, one of Japan's largest financial groups, is accelerating its transformation from traditional finance to digital assets. CEO Kitao underscored the firm's commitment to compliance-driven growth, aiming to capture first-mover advantages in Asia's evolving crypto market.