SBI Holdings Sticks with Ripple Amid Market Slump
SBI Holdings, a Japanese financial group, has reaffirmed its commitment to Ripple despite the recent slump in XRP prices. The company values its Ripple shareholding at ¥6.6 trillion, equivalent to about $41.2 billion.
The announcement comes as SBI reported record first-quarter earnings and continued expanding its digital asset operations. Revenue reached ¥571.0 billion, while profit before tax climbed to ¥225.8 billion.
SBI's commitment to Ripple is significant, given the company's long-standing relationship with the payments technology provider. The group has supported XRP-based payment services and promoted blockchain settlement systems through its financial subsidiaries and regional partnerships.
The company attributed the sluggish cryptocurrency market to uncertainty surrounding the proposed Clarity Act, which seeks to establish clearer oversight rules for digital assets in the United States.