'Yes': SBI CEO Yoshitaka Kitao Answers XRP Holder Doubts in One Word
SBI Holdings CEO Yoshitaka Kitao answered 'YES' when asked if he still trusts XRP, addressing concerns from token holders.
The question came from an X user who expressed frustration that recent weeks had been 'truly exhausting' for XRP holders, suggesting they feel Ripple has left them behind. Kitao's brief but powerful response came in English, contrasting with his typical Japanese posts on the platform.
Kitao, a former executive at Nomura Securities and CFO of SoftBank, founded SBI Investment in 1999, which later became SBI Holdings. The financial conglomerate operates banks, brokerage services, insurance businesses, and crypto services.
Long-standing Partnership
SBI's relationship with Ripple dates back to 2016 when the Japanese firm joined Ripple's Series B funding round and established a joint venture called SBI Ripple Asia, with SBI holding 60% and Ripple 40%. The same year, they formed a consortium of Japanese banks to test Ripple's payment technology, which later expanded to include over 60 banks.
In 2018, SBI launched the MoneyTap interbank app and began operating its crypto exchange (now SBI VC Trade) with X trading. By 2019, Kitao had joined Ripple's board of directors. SBI continued its partnership with Ripple throughout the SEC lawsuit against the company from 2020 to 2025.
Ongoing Commitment
From 2020, SBI distributed XRP to shareholders as bonuses and launched remittance services using the token with on-demand liquidity, particularly for the Japan-Philippines corridor. In February 2026, Kitao clarified that SBI holds approximately 9% of Ripple Labs, not $10 billion worth of XRP, suggesting their actual stake could be much larger.
Not $10 billion in XRP, but around 9% of Ripple Labs. So our hidden asset could be much bigger.
At a November 2026 briefing, Kitao distinguished Bitcoin as a primarily held asset from XRP, whose value depends on its utility in payments and business ecosystems. SBI continues expanding its crypto operations, including bringing the RLUSD stablecoin to Japan in August 2025 and investing $200 million in Evernorth that October. SBI VC Trade now serves over two million accounts, with XRP trading at $1.02 at press time.
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