The XRP issuer is still listed on the stock market according to the CEO of finance giant SBI. However, this step will only be possible once the dispute with the SEC has been finally settled.
Coinbase has made a splash on the stock market. With its direct listing on the Nasdaq, the exchange raised billions of dollars and triggered a sharp rise in the price of cryptocurrencies – followed by a correction.
Ripple Labs, the issuer of XRP, also readily imagines a stock market fate as a listed company. However, this project predates Coinbase’s IPO. But this prospect is not relevant at the moment.
The IPO, a winning transaction for SBI
However, the leaders of Ripple Labs would not have drawn a final line. And it is the CEO of the Japanese finance giant, SBI, who brings this subject up to date. SBI is indeed a capital partner for Ripple.
And unlike US exchanges and other crypto players, SBI has not cut ties with the blockchain firm following its run-ins with the SEC. According to Yoshitaka Kitao, Ripple always plans to go public.
The manager addressed the issue during the presentation of the financial results for the first quarter. However, the listing will only take place after the conclusion of the judicial file in the United States. “After the current lawsuit, Ripple will go public. The current CEO wants to do it. Chris wants to do it, ”Kitao says.
He refers here to the two founders of Ripple, Brad Garlinghouse and Chris Larsen, both implicated by the SEC. The regulator accuses them in particular of manipulating XRP prices for personal gain.
The stock market, a “natural evolution” for Ripple
Why is SBI so interested in Ripple and an IPO? For the simple reason that the Japanese group owns a stake in the company. The value of its investment would therefore increase in the event of a stock market listing.
SBI is indeed the largest external shareholder of Ripple, recalls the boss of the finance giant. He hopes to grow his investments, like SoftBank, involved in multiple startups.
SBI is also counting on the future listing of the R3 blockchain consortium, in which it also participates. ” We have invested in fintech companies and we are adopting this technology in our group and also we are spreading it in the sector. », Underlines Kitao.
Regarding Ripple, Brad Garlinghouse mentioned in 2020 a possible IPO, without setting a timetable, however. “Over the next 12 months you will see IPOs in the crypto / blockchain arena. We won’t be the first or the last, but I expect us to be on the leader’s side. It is a natural evolution for our company ”.