What to Know
- SBI Holdings CEO Yoshitaka Kitao reaffirmed confidence in XRP despite growing investor frustration over declining prices and Ripple’s perceived commitment.
- Kitao emphasized XRP’s payment utility and business adoption, distinguishing its economic role from Bitcoin’s position as a long-term investment asset.
- SBI’s Ripple partnership includes blockchain payments, XRP shareholder benefits, RLUSD expansion, and a $200 million investment in Evernorth during 2025.
SBI Holdings CEO Yoshitaka Kitao has reaffirmed confidence in XRP despite growing frustration among investors over the cryptocurrency’s declining market value. The Japanese financial executive addressed concerns that Ripple has abandoned XRP holders amid prolonged market weakness.
SBI CEO Reaffirms XRP Confidence Amid Growing Investor Frustration
According to a recent exchange on X, an XRP investor questioned Kitao about the cryptocurrency’s future and Ripple’s commitment to holders. The investor described recent market conditions as exhausting, reflecting growing dissatisfaction within the XRP community.
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Kitao responded with a single word, “YES,” confirming that confidence in XRP remains unchanged despite the prevailing market conditions. Notably, the executive delivered the response in English, departing from the Japanese-language posts that dominate Kitao’s social media activity.
The statement carries significance because SBI Holdings maintains extensive financial relationships with Ripple and its blockchain ecosystem. Meanwhile, XRP traded near $1.02 as investors assessed the cryptocurrency’s performance against Ripple’s expanding institutional operations.
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During SBI’s November 2 quarterly briefing, Kitao explained that XRP’s value depends primarily on payment adoption and business applications. The executive distinguished XRP from Bitcoin, noting that investors primarily purchase Bitcoin as a long-term investment asset.
SBI’s Decade-Long Ripple Partnership Strengthens Kitao’s Position on XRP
SBI Holdings established its partnership with Ripple in 2016 through participation in the blockchain company’s Series B financing round. Both companies subsequently formed SBI Ripple Asia, with SBI controlling approximately 60% and Ripple holding the remaining 40%.
The partnership also established a Japanese banking consortium that eventually attracted more than 60 financial institutions exploring blockchain payments. In 2018, SBI introduced MoneyTap, an interbank payment application, alongside cryptocurrency trading services through its exchange business.
Kitao joined Ripple’s board in 2019, further strengthening cooperation between the two financial technology companies. Additionally, SBI introduced XRP shareholder benefits in 2020 and expanded international remittance services through SBI Remit.
The financial group maintained its relationship with Ripple throughout the company’s legal dispute with American securities regulators. In August 2025, SBI VC Trade partnered with Ripple to introduce RLUSD stablecoin services in Japan.
SBI also invested $200 million in Evernorth during October 2025, expanding its involvement in XRP-related financial businesses. Kitao’s endorsement reinforces SBI’s longstanding commitment to Ripple’s ecosystem despite XRP’s declining market performance and growing investor concerns.
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