SBI CEO: Once the SEC issue is resolved, Ripple should prepare for an IPO as soon as possible

ChainCatcher News, Yoshitaka Kitao, CEO of the major Japanese financial services firm SBI Holdings, recently responded to a post celebrating XRP's rise to the sixth largest cryptocurrency by market capitalization on X, stating that once the SEC issues are resolved, Ripple should prepare for an IPO as soon as possible.

SBI Holdings has been collaborating with Ripple since 2017 to promote innovations in cross-border payments. Kitao has been a key figure in the Ripple-SBI partnership, joining Ripple's board 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.

However, Ripple CEO Brad Garlinghouse has previously downplayed the urgency of seeking an IPO. He emphasized the company's strong financial position and stated that Ripple currently does not need to raise funds through the public markets. Additionally, Garlinghouse pointed out that the regulatory environment in the U.S. is challenging, largely influenced by the ongoing disputes with the U.S. SEC, which have hindered IPO plans. Although Ripple has explored the prospects of an international IPO, such initiatives remain on hold.