The CEO of the Japanese financial giant SBI Group, Yoshitaka Kitao, said that Ripple is preparing for an IPO, but will hold it after the end of the lawsuit with the SEC.
Ripple and SBI have established friendly relations for several years – SBI Group is the largest partner of the American company in Japan. Therefore, it is not surprising that the CEO of SBI Group spoke about the possible IPO. Moreover, back in January 2020, Ripple CEO Brad Garlinghouse spoke about the upcoming boom in IPOs of cryptocurrency companies, and about Ripple’s participation in this trend.
“After the trial ends, Ripple will go public. Chris wants this, ”Kitao said, mentioning one of the founders of the American company, Chris Larsen.
The IPO plans were delayed after the US Securities and Exchange Commission (SEC) sued Ripple’s executives late last year, accusing them of selling unregistered securities and fraud. However, things are not going very well with the regulator in court, recently the court refused the SEC to receive financial data from Ripple.
Coinbase cryptocurrency exchange recently entered the stock exchange, and its capitalization exceeded $ 80 billion. Kraken management is also considering this possibility.
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