Ripple wants go public after settling SEC lawsuit, SBI CEO says
April 29, 2021. Summarized by summa-bot.
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SBI Group's CEO said that SBI’s investment in Ripple would pay off following a potential public listing.
Major cryptocurrency company Ripple has not given up on its plans to go public despite its ongoing legal battle with United States regulators, according to SBI Group’s CEO.
Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, claimed that Ripple plans to become a public company after the firm settles a legal action brought against it by the United States Securities and Exchange Commission.
Speaking on a Wednesday earnings presentation call, Kitao said that both Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen are planning to take Ripple public:
“After the current lawsuit, Ripple will go public.
Kitao said that SBI’s investment in Ripple would pay off following a potential public listing, noting that SBI is the largest outside shareholder of Ripple.
Kitao further predicted that blockchain consortium R3 — another industry company actively supported by SBI — will also go public one day.