The CEO of Japanese financial giant SBI Group, Yoshitaka Kitao, said Ripple will go public. Ripple co-founder Chris Larsen wants the company to move in that direction, he said. Kitao claims that this will happen after the completion of the blockchain startup’s lawsuit with the US Securities and Exchange Commission (SEC), writes RBC Crypto.
Earlier, the Japanese financial conglomerate offered shareholders to receive dividends in XRP cryptocurrency. For every 100 shares, SBI Group will pay tokens equivalent to $ 23. Their exact number will be determined at the rate for June 30. SBI Group is one of Ripple’s longtime partners.
Ripple’s plans to hold an IPO were announced by CEO Brad Garlinghouse at an economic forum in Davos in early 2020. However, at the end of the same year, the SEC accused Ripple of illegally selling unregistered securities under the guise of $ 1.3 billion tokens.
On April 14, XRP quotes were approaching $ 2. This came amid several positive developments in the Ripple / SEC case. For example, on April 7, the court opened the blockchain project access to documents for internal use by the SEC. The company expects to find evidence that the regulator has in the past referred to the XRP token as a currency, not a security.
And on April 12, Garlinghouse and co-founder of the blockchain project, Chris Larsen, filed a motion to dismiss the SEC’s claim about their individual liability. According to the company’s representatives, the regulator was unable to prove the fact of deliberate violation of the law by its management. XRP is trading at $ 1.38 today, according to data from CoinGecko. In April, the token has risen in price by 146%.
The first public crypto exchange was Coinbase. The site’s shares began trading on the NASDAQ on April 14. Also, plans to conduct a direct listing and become a public company by the end of 2021 were announced by the CEO of the Kraken crypto exchange Jesse Powell.
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