SBI Holdings Blames XRP Weakness on U.S. Regulatory Limbo

SBI Holdings, a Japanese financial services group, has attributed XRP's recent weakness to uncertainty over U.S. regulatory legislation. The company's director, Yasuo Nishikawa, stated that investors are hesitant to expand new positions until the regulatory framework for digital assets in the United States becomes clear.

XRP has struggled to break free from market weakness, trading around $1.06 with a 2.29% drop over the past week and a 42.31% decline so far this year. Nishikawa emphasized that SBI Holdings' long-term investment stance in Ripple remains unchanged, valuing its stake at approximately 660 billion yen.

SBI Holdings is expanding its business in preparation for a market recovery, including stablecoin offerings and crypto lending products. The company's subsidiary, SBI VC Trade, is also increasing stablecoin-related services. Additionally, SBI Group is pursuing the acquisition of Japanese crypto exchange Bitbank, which would increase customer accounts to about 3 million and assets under custody to approximately 870 billion yen.