SBI chairman Yoshitaka Kitao says he still trusts XRP, reaffirming support backed by Ripple investment, XRP payments and XRPL infrastructure.
Yoshitaka Kitao, chairman and president of SBI Holdings, has reaffirmed his confidence in XRP after a holder questioned whether he still trusted the asset amid growing frustration.
In a November 12 reply on X, Kitao answered with one word: “YES.”
YES.
— 北尾吉孝 (@yoshitaka_kitao) November 12, 2026
The response followed a message from CryptoKen, who asked whether Kitao’s trust remained intact and described recent weeks as exhausting for XRP holders. The user also expressed disappointment with Ripple, saying members of the community felt left behind.
Kitao offered no price target or timetable. His response nevertheless reaffirmed support from the leader of a financial group with longstanding investments, payment operations and infrastructure commitments connected to Ripple and XRP.
Kitao’s Earlier Remarks Linked XRP’s Prospects to Legal Clarity
Kitao has previously expressed stronger expectations about XRP’s price.
In June 2023, he suggested that a favorable outcome in Ripple’s dispute with the U.S. Securities and Exchange Commission could support a substantial increase in XRP’s value. The Crypto Basic reported those conditional remarks at the time. The comments later resurfaced in 2025, but originated in the earlier legal context.
His latest reply is more limited: it confirms continued trust without renewing those price expectations.
Kitao also clarified SBI’s financial exposure in February 2026. Responding to claims that SBI held $10 billion in XRP, he explained that the group instead owned approximately 9% of Ripple Labs.
As previously covered in Kitao’s clarification of SBI’s Ripple investment, his argument concerned the potential value of SBI’s equity stake. That ownership should not be confused with holding an equivalent percentage of XRP’s supply.
SBI’s Ripple Relationship Dates Back to 2016
SBI’s connection to Ripple extends beyond public endorsements.
The companies established SBI Ripple Asia in May 2016 to develop and distribute blockchain-based financial solutions across Japan and other Asian markets. SBI’s establishment announcement outlined a 60% ownership share for SBI and 40% for Ripple. It also confirmed SBI’s equity investment in Ripple.
That relationship has three distinct elements: investment in Ripple as a company, commercial use of XRP, and participation in the XRP Ledger’s infrastructure.
Keeping those elements separate matters. Ripple’s corporate growth, XRP payment activity and development of the public ledger are connected, but they measure different aspects of SBI’s involvement.
SBI Remit Uses XRP for Cross-Border Payments
SBI’s payment business provides a concrete example of XRP utility.
SBI Remit began using XRP in 2021 to bridge transfers from Japan to digital wallets in the Philippines. In September 2023, it announced expansion to bank-account remittances in the Philippines, Vietnam and Indonesia.
Under the arrangement, SBI Remit initiates the payment request, SBI VC Trade sends XRP in real time, and Tranglo handles the recipient’s local bank payout. SBI Remit explained that using XRP as a bridge could reduce the need to prefund destination accounts.
This gives SBI an operational connection to XRP beyond holding or offering the asset for trading.
SBI Also Participates Directly in the XRP Ledger
SBI VC Trade expanded its involvement by launching an XRP Ledger validator on May 10, 2024.
Its official announcement described plans to support the network’s development and incorporate feedback from Japanese XRP holders when considering future feature amendments. The company also highlighted its existing XRP trading services and the asset’s popularity among its customers.
These commitments explain the background to Kitao’s brief response. SBI’s relationship with XRP encompasses payments and network participation alongside its investment in Ripple. His latest message reaffirms that confidence, while leaving questions about future price performance unanswered.