Yoshitaka Kitao, Chairman and CEO of SBI Holdings, reaffirmed his confidence in Ripple's future during his address at FIN/SUM's Core Week.
Ripple's Legal Struggles Near Resolution
Kitao highlighted the series of lawsuits that Ripple has encountered over the years, particularly its legal battle with the U.S. Securities and Exchange Commission (SEC), which began in 2020. Despite these hurdles, he believes the company is finally approaching a resolution, offering a more promising outlook for its operations. The optimism surrounding Ripple's legal standing is largely due to its ongoing settlement discussions with the SEC.
SBI and Ripple’s Expanding Collaboration
SBI Holdings has been a key supporter of Ripple since 2012, holding a 9% stake in the company and playing a central role in its expansion into the Asian market. In 2016, SBI Ripple Asia was established to drive blockchain-based financial solutions in the region. The partnership further expanded in 2021 with the introduction of XRP-powered remittance services through SBI Remit.
SBI’s Vision for the Future
SBI Holdings is transitioning from 'Fintech 1.0' to 'Fintech 2.0.' This strategic shift involves leveraging blockchain, artificial intelligence, and other emerging technologies to redefine financial services. The company aims to integrate these advancements into its core business model to enhance efficiency and create new growth opportunities.
Yoshitaka Kitao remains committed to his vision for the future of SBI and Ripple, emphasizing the role of blockchain technology in evolving the financial sector.
