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SBI Holdings, the Japan-based company, announced that its long-standing holding in Ripple Labs will stay off its books. SBI Holdings then elaborated that this rule will apply until the US fintech firm lists its shares or gets a third-party valuation. This action keeps what SBI management calls an ‘enormous amount of unrealized profit’ unreported for now.
The revelation was made in the group's fiscal-year 2024 results on May 9. The results also disclosed that SBI's consolidated revenues increased 19.3% year over year to ¥1.443 trillion ($9.39 billion). The company also reported an impressive rise in profit before tax to ¥282.3 billion ($1.83 billion). The company spokesperson pointed out that once Ripple is listed, the profits could exceed ¥1 trillion ($6.5 billion).
SBI’s crypto-asset segment, including market-maker B2C2 and its retail platform SBI VC Trade, saw revenues soar by 151.8% to ¥80.8 billion ($526 million). The growth, along with the expected revaluation of Ripple’s stake, positions SBI for great success in the future.
The company is also aiming to double its assets under management to ¥20 trillion ($130 billion) by FY 2027. A potential Ripple listing could help achieve this ambitious target. SBI’s leadership remains confident that once Ripple’s true value is unlocked, the results will speak for itself.
SBI’s stake in Ripple is of major interest to me. After supporting the firm for over a decade, the company holds nearly 10% of Ripple’s equity. The market capitalization for XRP stands at around ¥20 trillion ($130 billion). Although much of the token’s supply remains locked under escrow, preventing full market valuation for now.
Ripple's public listing continues to be on hold due to its legal fight with the US Securities and Exchange Commission (SEC). However, a big breakthrough was made on May 8 when the SEC revealed a settlement agreement, thus eliminating a major regulatory hurdle that had delayed Ripple's IPO plans.
SBI CEO Yoshitaka Kitao has remained optimistic about Ripple's future. Kitao emphasized that legal clarity will pave the way for Ripple’s equity re-rating, which will ultimately unlock massive growth potential.
The XRP price chart shows that it is trading at $2.48 as of 2.05 PM on May 13, 2025:
XRP was one of the biggest gainers, rising 3.56% among the top ten cryptocurrencies on May 13, 2025. It has gathered significant market attention focused on the company’s next moves. Some crypto analysts and influencers believe that XRP could rise to $1,000, pointing to the token’s past performance during bull markets. Thus, SBI keeping Ripple's valuation under wraps may be a great move and may propel the company’s profit growth further in the future.
