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SBI Holdings CEO Says Japan Is The Most Likely Country Ripple Will Relocate To

Yoshitaka Kitao, the CEO of Japanese financial giant SBI Holdings, said that Japan is the most likely country Ripple will relocate to, as it should leave the United States. 

It has been reported that Kitao stated that the blockchain-based payments firm “has made Japan the most promising candidate” for its new headquarters if Ripple makes good on its threats to move its San Francisco offices.

However, SBI Holdings is a Ripple investor, while Kitao sits on the firm’s board of directors.

Both Ripple co-founder Chris Larsen and CEO Brad Garlinghouse have expressed frustration at the lack of regulatory clarity in the United States. Earlier this month, Larsen stated the firm was considering moving to countries like the UK, Switzerland, Singapore, or Japan because authorities in the US had a “regulation through enforcement” policy and were “woefully behind” in preparing for the cryptocurrency-based next generation of a global financial system.

According to SBI Holdings CEO Yoshitaka Kitao, Japan is the new front runner for Ripple’s new HQ if it leaves the US — Cointelegraph (@Cointelegraph) October 30, 2020

The report said that Ripple shortlisted Japan and Singapore, as Garlinghouse said at the time that he had spoken to SBI about using the country as a potential location for its headquarters.

Garlinghouse said:

“Japan is one of our fastest-growing markets, in part because we have key partners like SBI.”

Also, SBI Holdings announced that Ripple had completed an investment in Japanese payments company MoneyTap, seemingly as part of its plans to integrate Ripple-powered settlements across ATMs in Japan.

Thus, the integration has intended to provide consumers with easier access to funds at Japanese ATMs regardless of their banking affiliation.

Source: Cointelegraph



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