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Ripple’s possible IPO has returned to public debate after SBI Holdings CEO Yoshitaka Kitao offered one of the clearest long-range timelines yet from a major Ripple shareholder.
Kitao said SBI could invest between $626 million and $1.25 billion in Ripple when the company goes public. However, his timeline also raised doubts, as he suggested a possible listing may still be about 12 years away.
SBI Holdings CEO Yoshitaka Kitao said Ripple ‘needs to go public’ while speaking at a recent conference in Tokyo. His comments quickly drew attention from the XRP community, mainly given SBI’s close links with Ripple.
Kitao said SBI may invest ¥100 billion to ¥200 billion in Ripple if the payments company lists its shares. That range equals about $626 million to $1.25 billion. However, he also said Ripple will ‘probably go public in about 12 years,’ placing any possible listing near 2038.
Notably, the comment came from one of Ripple’s long-standing backers, not from a market analyst or social media commentator. SBI invested in Ripple years ago and later helped create SBI Ripple Asia, a joint venture focused on cross-border payment services.
SBI has also disclosed that it owns about 9% of Ripple Labs. That stake makes Kitao’s view relevant to the wider debate, although his remarks do not confirm any formal IPO plan from Ripple.
Ripple IPO talk has followed the company for years, especially after its legal battle with the U.S. Securities and Exchange Commission ended in 2025. Since then, Ripple has expanded into custody, stablecoin infrastructure, tokenization, and acquisitions.
However, Ripple executives have continued to cool expectations. CEO Brad Garlinghouse said last year that Ripple does not need outside funding. Meanwhile, Ripple President Monica Long said in January 2026 that the company still planned to stay private.
Long said Ripple’s balance sheet gives the company enough space to keep growing without public-market capital. That position also follows Ripple’s reported private-market strength after it raised $500 million at a valuation of about $40 billion in late 2025.
These comments show why Kitao’s IPO timeline carries doubt. While he sees Ripple as a future public company, Ripple’s own leadership has not presented a near-term listing plan.
Ripple CEO Brad Garlinghouse also brought XRP holders back into the IPO debate during a recent appearance on the Crypto In America podcast. According to reporter James Dula, Garlinghouse suggested XRP holders could see 'something special' if Ripple ever goes public.
The remark did not confirm any program, reward, share allocation, or token-linked benefit. However, it started a fresh debate as XRP remains closely tied to Ripple in public discussion, even though XRP is not Ripple equity.
An IPO would make Ripple shares available on a public exchange. It would also bring stricter reporting, more investor attention, and closer market review. For XRP holders, the interest comes from sentiment around Ripple’s growth and the company’s use of XRP.
Some investors have discussed possible outcomes, including early access to shares, community rewards or tokenized equity structures for eligible participants. However, none of these ideas has been confirmed by Ripple.
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Ripple equity and XRP remain separate assets. XRP holders do not own Ripple shares through their token holdings and any direct benefit would depend on Ripple’s future corporate decisions.
Additionally, a public listing could bring new rules and shareholder pressure. That may limit how closely Ripple can connect corporate incentives with XRP holders. This is one reason the company’s private status remains part of the discussion.
Even so, XRP remains central to Ripple’s long-term strategy. Garlinghouse has previously described XRP as the company’s ‘North Star,’ which continues to keep the IPO debate active among holders.
For now, Ripple has not announced an IPO date. Kitao’s ‘about 12 years’ comment suggests the listing remains possible, but not immediate.
