Japanese company SBI Holdings has denied that it holds XRP for $10 billion. Apparently, the confusion arose from a post that went viral on social media, which stated that SBI, a long-standing partner Ripple, «owned XRP worth $10 billion» and expanded its presence in Asia through the acquisition of Singapore-based crypto platform Coinhako.
However, SBI Holdings Chairman and CEO Yoshitaka Kitao publicly denied this claim.
Not $10 billion in XRP, and about 9% of the shares Ripple Lab. So our hidden asset could be much larger,» he said.
It turns out that SBI does not own XRP for a large sum directly. Instead, the Japanese financial services giant owns approximately 9% of the American company’s shares. Ripple Labs, which is engaged in Block-payments and closely related to XRP.
SBI has been one of the most important strategic partners for many years Ripple in Asia. The company supports joint ventures and promotes cross-border payment solutions. Ripple throughout the region. Its share in Ripple Labs is a corporate investment, not a treasury portfolio. XRP.