Japanese Giant Company Clarifies $10 Billion Ripple and XRP Claims! Here’s the Truth

Japanese banking giant SBI Holdings has issued a statement regarding the XRP allegations made against it.

Accordingly, SBI denied claims that it held $10 billion worth of XRP and stated that it only owned 9% of Ripple Labs.

SBI Holdings CEO Yoshitaka Kitao clarified the claim made by a user named “Ledger Man (@strivex_)” that SBI is a large holder of XRP.

Yoshitaka Kitao, stating that the company holds a 9% stake in Ripple Labs, refuted speculation that it owns $10 billion worth of XRP. Kitao clarified that the company’s primary focus is Ripple Labs, not XRP.

With this statement, the CEO emphasized that SBI Holdings does not directly own XRP, but supports Ripple through its significant stake and partnership.

Ripple Labs reached a valuation of approximately $40 billion last November in a $500 million funding round led by Fortress Investment Group and Citadel Securities.

According to this valuation, SBI Holdings’ 9% stake is worth approximately $3.6 billion.

*This is not investment advice.

Continue Reading: Japanese Giant Company Clarifies $10 Billion Ripple and XRP Claims! Here’s the Truth