During his firm’s earnings call, the Japanese founder of SBI Yoshitaka Kitao revealed that Ripple plans to go public after its spat with the American Securities and exchange commission (SEC). He further stated that Chris Larsen – the co-founder of Ripple – also wants the company to move in that same direction.
Previously, Brad Garlinghouse, the CEO of Ripple, had said that the crypto company would be leading the IPO boom in the first month of January of this year. However, the plans appeared to be currently shelved due to the lawsuit it was facing from the American financial regulatory agency.
In his words,
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.
SBI, Ripple’s biggest overseas shareholder, has been a prominent supporter of XRP, which in Japan is used as a digital asset. Several media reports have indicated that shareholders of the company would be receiving profits for the second year in a row.
On the other hand, several other prominent people in the crypto market, including Kitao, argued that Ripple’s legal challenges in the United States wouldn’t affect its dealings globally. With a new SEC chief in office, the American policy on cryptocurrencies could become a lot clearer.