SBI’s CEO lays out a long-range IPO timeline for Ripple — and a big cheque
A fresh spark has reignited talk of a Ripple public listing after SBI Holdings CEO Yoshitaka Kitao gave one of the clearest multi-year timelines yet from a major Ripple shareholder. Speaking at a Tokyo conference, Kitao said he expects Ripple Labs to go public in roughly 12 years — around 2038 — and that SBI would be prepared to invest heavily when that happens: about ¥100 billion to ¥200 billion (roughly $626 million to $1.25 billion).
Why Kitao’s timeline matters
Kitao isn’t a casual observer. SBI has been one of Ripple’s most consistent strategic backers since 2016, invested directly in Ripple Labs, and helped found SBI Ripple Asia to commercialize Ripple’s cross-border payments technology across the region. SBI also discloses it owns roughly 9% of Ripple, making it one of the company’s largest external shareholders. That insider status gives weight to his long-range prediction and his stated willingness to deploy significant capital on a public listing.
Where Ripple stands on an IPO
Despite longstanding market curiosity about an IPO, Ripple’s leadership has repeatedly downplayed plans to list soon. The company emerged from its high-profile legal dispute with the U.S. Securities and Exchange Commission in 2025 and has since broadened its business into custody, stablecoin rails, real-world-asset tokenization and strategic acquisitions. It also demonstrated private-market strength, raising $500 million at an approximate $40 billion valuation in late 2025.
Top executives have been clear: Ripple doesn’t need public-market funding right now. CEO Brad Garlinghouse dismissed IPO speculation last year, and President Monica Long said in January 2026 that Ripple planned to remain private, citing a balance sheet robust enough to support continued growth.
What Kitao’s remarks mean for the market
Kitao’s “12-year” estimate places any IPO well outside the current cycle and underscores a patient, long-term view from a major stakeholder rather than an immediate trigger for XRP price action. Still, his public commitment to commit up to the equivalent of over $1 billion at listing signals strong institutional support and could influence strategic thinking inside Ripple and among other investors down the road.
Bottom line
Kitao’s comments rekindle IPO talk with a concrete — if distant — timetable and a notable commitment of capital from one of Ripple’s largest partners. For now, however, Ripple’s leadership and recent private fundraising suggest the company will continue building privately while the market watches whether that distant IPO forecast comes to pass.
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