SBI Group CEO Yoshitaka Kitao recently stated that an initial public offering (IPO) could be in Ripple’s plans.

During an earnings call with investors, Kitao said this. Ripple’s CEO claimed that the company is only waiting for the legal dispute with the Securities and Exchange Commission in the United States to resolve its IPO plans.

The statements made by SBI Group about Ripple going public are factual. Since the financial services firm is Ripple’s largest third-party investor, it can offer insider knowledge on the subject.

SBI has made significant investments in fintech firms such as Ripple and its rival R3.

Kitao reported during the earnings call presentation that SBI Group’s investment in Ripple would pay off after the IPO.

Kitao’s suggestion that Ripple will go public is backed up by Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen’s previous comments.

“Ripple will go public after the latest lawsuit,” Kitao said. That is something that the new CEO wishes to do. That’s what Chris would like to do.”

Garlinghouse had been discussing a possible IPO for Ripple well before the litigation issues surfaced.

Garlinghouse previously indicated that he believes blockchain and cryptocurrency IPOs will become more popular, mentioning Ripple as one of the crypto firms. “You’ll see IPOs in the crypto/blockchain room in the next 12 months,” he predicted. We won’t be the first, nor will we be the last, but I expect us to be in the lead. It’s a natural progression for our business.”

Crypto Firms has Started Betting on IPOs

Coinbase made history earlier this month when it went public with a direct listing on the Nasdaq stock exchange. Following the recent major launch, several crypto-related companies are preparing to go public next. Coinbase’s direct listing serves as a kind of litmus test for other cryptocurrency firms.

The decision to go public for some crypto companies would be based on investor financial interest. Others may take the opportunity right away, while others may wait.


For example, the Kraken cryptocurrency exchange in San Francisco is considering going public in 2022.

Blockchain.com, a London-based cryptocurrency company, is considering going public and recently revealed that it is carefully considering its public-market options.

However, it is not in a hurry. Bakkt, BlockFi, eToro, and Gemini are all considering going public, as Ripple is also considering.