In a curious twist of fate, the illustrious Yoshitaka Kitao, the grand maestro of SBI Holdings, took to the digital stage to unveil a not-so-shocking truth: the financial behemoth does not cradle $10 billion in XRP tokens as some fanciful souls might have believed. Instead, it holds a rather hefty chunk of equity in Ripple Labs, which, let’s face it, is just as shiny but doesn’t require a life jacket for the unpredictable waves of cryptocurrency volatility.
Equity, not tokens
The tale unfurled when a user, identified only as @strivex_, sang praises of SBI’s recent foray into the enchanting realm of Singapore. “SBI, a major partner of Ripple and holder of $10 billion in #XRP, is growing its presence in Asia…” they chirped, clearly under the impression that SBI was swimming in XRP gold. But fear not, for our hero Kitao swooped in with a quip to rectify this numerical misstep!
To hold $10 billion in XRP would be akin to ensuring a tightrope walk without a safety net-one slip, and down one goes into the depths of despair. Instead, by clutching onto 9% of Ripple Labs, SBI plays it smart, retaining its dignity while enjoying the fruits of ownership in the private company’s majestic empire.
U.Today Crypto Digest: Shiba Inu Price Rebounds, Ex-Ripple CTO Calls Bitcoin ‘Dead End’, Goldman Sachs Owns 14% of XRP ETF
A “hidden asset”?
In a follow-up tweet that could rival Shakespearean soliloquies, Kitao waxed poetic about his precious stake, dubbing it a “hidden asset” that remains shrouded in the shadows of SBI’s balance sheet. “When it comes to Ripple Lab.’s total valuation, which obviously includes its ecosystem that Ripple has created, that would be enormous. SBI owns more than 9% of that much,” he mused, perhaps while donning a thinking cap.
Rumors swirling in the private market whisper of Ripple Labs being valued at a staggering $50 billion. If this is true, SBI’s 9% stake could be worth around $4.5 billion-on paper, of course! One can only hope the paper doesn’t catch fire.
Nonetheless, Kitao seems convinced that Ripple’s ecosystem is worth far more than what mere mortals can deduce from current metrics. After all, who needs reality when you have ambition?
Since 2016, SBI Holdings has donned the armor of Ripple’s most loyal knight, forging an alliance deep and intricate, like a well-tangled ball of yarn.
The Coinhako acquisition
In the latest chapter of this saga, SBI boldly declared its intent to acquire a majority stake in Coinhako, a regulated cryptocurrency exchange nestled in the heart of Singapore. This exchange possesses a Major Payment Institution license from the Monetary Authority of Singapore (MAS)-a title that sounds rather impressive, doesn’t it?
SBI is effectively constructing a “corridor” for digital assets that bridges the vast expanse between Japan and Southeast Asia, like a modern-day Silk Road, but with more blockchain and fewer camels. Ah, progress!
Read More
- BTC PREDICTION. BTC cryptocurrency
- Gold Rate Forecast
- USD TRY PREDICTION
- ENA Price Jumps 18% as December Breakout Setup Strengthens: Can It Hit $0.65 Next?
- EUR USD PREDICTION
- EUR JPY PREDICTION
- USD VND PREDICTION
- Meet Vector: The Blockchain That Tosses Finality Speeds Out the Window! 🚀
- Silver Rate Forecast
- SEC v Cryptos: ‘Innovation Exemption’ Will Arrive in 30 Days… Maybe? 🧨💸
2026-02-15 11:45