Yoshitaka Kitao, CEO of SBI Holdings, recently revealed ambitious plans to invest up to $1.25 billion in Ripple’s initial public offering (IPO), indicating that the cryptocurrency company could potentially go public within the next 12 years. This announcement was made during SBI’s latest information meeting, where Kitao elaborated on the company’s investment strategy for Ripple.
Kitao outlined a phased approach to investment, suggesting that approximately 70% of savings earmarked for future investments would be directed towards this initiative. He emphasized his commitment to Ripple, expressing a willingness to “go all in” when the time comes for the company to enter the public market. Notably, he mentioned that if SBI opts to make a full one-time investment, the amount could range between 100 billion yen (approximately $626 million) and 200 billion yen (around $1.25 billion).
The CEO underscored the potential advantages of Ripple’s transition to public status, drawing comparisons to other companies like Circle that have successfully navigated the public market. Kitao believes this move could significantly bolster Ripple’s growth and allow the company to adapt and reinvest for future successes.
SBI Holdings and Ripple have enjoyed a collaborative relationship since 2016, with SBI investing during Ripple’s Series B funding round, which raised $55 million. This partnership has been pivotal in advancing cross-border payment technologies and the use of Ripple’s cryptocurrency, $XRP, particularly through the On-Demand Liquidity service. Since then, SBI has solidified its position as Ripple’s largest external shareholder, holding approximately 9% equity.
The partnership has seen various initiatives, such as the launch of SBI Ripple Asia, aimed at enhancing cross-border payments in Asia with 40 currencies across more than 70 countries. SBI Remit, a service offered by SBI Ripple Asia, became the first in Japan to utilize $XRP for real-time remittances between Japan and the Philippines back in 2021.
However, despite SBI’s keen interest in an IPO, Ripple has reiterated its stance against going public in the near future. The company has highlighted its strong financial footing and ability to self-fund growth without the need to access the public markets. Ripple recently raised $500 million at a valuation of $40 billion and initiated a $750 million share buyback program, aiming to increase its valuation to $50 billion.
In a January 2026 interview, Ripple President Monica Long reaffirmed the company’s commitment to remaining private, stating that Ripple has sufficient resources to support its growth independently. She noted that businesses typically seek public listings when they require additional capital, a situation Ripple is currently not facing.
As developments unfold, the long-standing partnership between SBI Holdings and Ripple could influence the future landscape of cryptocurrency and public offerings, though significant questions remain about the timing and nature of Ripple’s potential entry into the public market.
