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SBI CEO: Ripple Looking To Go Public After Settling SEC Lawsuit

The CEO of Japanese financial giant SBI Group, Yoshitaka Kitao claimed that Ripple is mulling over becoming a public firm after the company settles a legal action brought against it by the United States SEC.

Speaking on a recent earnings presentation call, Kitao mentioned that both Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen are planning to take Ripple public. He said,

“After the current lawsuit, Ripple will go public. The current CEO wants to do that. Chris wants to do that.”

Kitao further forecasted that blockchain consortium R3, which is another crypto-oriented firm, actively assisted by SBI — will also go public one day.

Kitao stated,

“We have been investing in fintech companies and we adopt that technology in our group and also we spread that technology across the industry. That is SBI Group’s basic strategy.”

Garlinghouse suggested a possible IPO last year, forecasting that initial public offerings would become more widespread in the digital asset industry. He mentioned,

“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side. It’s a natural evolution for our company.”

It is to be noted that the SEC filed a lawsuit against Ripple Labs as well as Garlinghouse and Larsen last year, claiming that XRP was a 1.3 Billion USD unregistered securities offering. The firm has managed to accomplish a series of legal conquests, bringing more hopes from investors apropos the lawsuit’s result and driving XRP price over 1.4 USD, a level not attained since January 2018.

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