SBI Holdings has carved out a unique position in the cryptocurrency world as one of the most prominent institutional backers of Ripple and its digital asset, XRP. Based in Tokyo, SBI is a diversified financial services group with deep roots in banking, securities, and asset management. Yet unlike most of its peers in traditional finance, SBI has embraced digital assets early and boldly—so much so that its involvement with Ripple and XRP is often compared to Strategy’s headline-grabbing Bitcoin strategy.
SBI’s commitment has gone far beyond casual support. The company has invested billions of dollars, launched joint ventures, and integrated XRP into its financial ecosystem in ways that could define the asset’s trajectory in global finance.
A Titan of Finance Betting on XRP
SBI Holdings controls a sprawling business empire that spans securities trading, banking, insurance, and asset management. In recent years, it has made digital assets a core pillar of its growth plan. At the center of that strategy sits XRP.
SBI reportedly holds about ¥1.6 trillion ($10 billion) worth of XRP tokens. Remarkably, this exceeds the group’s own stock market valuation of ¥1.2 trillion. In other words, SBI’s exposure to XRP is so large that the digital asset itself arguably represents more value on SBI’s balance sheet than the company’s traditional businesses. This mirrors the way Strategy transformed itself into a Bitcoin proxy stock—except SBI’s bet is on XRP.
Unlike Strategy, which primarily uses Bitcoin as a store of value, SBI is focused on XRP’s role as a settlement and payments asset. The group sees XRP as a strategic tool to modernize cross-border money transfers, reduce remittance costs, and enable global wealth transfers at scale. That vision helps explain why SBI has not only bought large amounts of XRP but also built businesses around using it.
SBI and Ripple: A Deep Partnership
SBI’s relationship with Ripple is unusually close for a traditional financial institution. Beyond holding XRP, SBI is also a major equity investor in Ripple Labs. This double exposure—owning both Ripple stock and XRP tokens—makes SBI one of the strongest institutional allies Ripple has.
The partnership is most visible through SBI Ripple Asia, a joint venture that was launched to expand Ripple’s blockchain payment technology across Asia. SBI Remit, the group’s money transfer subsidiary, has been one of the earliest to use XRP as a bridge currency for cross-border payments. This setup allows someone in Japan, for example, to send yen that are converted into XRP, transmitted instantly, and then converted into Philippine pesos or Vietnamese dong within seconds.
Such use cases show why SBI’s backing matters. While many crypto assets rely on speculative demand, SBI is working to embed XRP into financial services that solve real-world problems. By processing billions in remittances using XRP, SBI is demonstrating that blockchain can improve on the outdated, costly SWIFT system that dominates global banking today.
Strategic Accumulation and Market Impact
SBI’s heavy exposure to XRP makes it one of the asset’s most important stakeholders. It doesn’t just passively hold tokens—it actively moves them, manages liquidity, and even explores buyback programs. Large transfers by SBI’s crypto arm, SBI VC Trade, often catch the eye of blockchain watchers because they can influence XRP’s short-term price and liquidity.
This active management is part of a broader strategy. By aligning its financial products with XRP, SBI creates demand that supports the asset’s market position. Talk of XRP-based ETFs in Japan, for example, shows how SBI is pushing to make the asset accessible to mainstream investors in regulated formats. If approved, such an ETF could draw significant inflows from retail and institutional investors, further boosting XRP’s liquidity and legitimacy.
SBI’s strategy has also inspired comparisons to corporate treasury management. Just as Strategy treats Bitcoin as a balance-sheet reserve, some analysts believe SBI may be positioning XRP in a similar role—both as a financial asset and as an enabler of fintech innovation.
Regulatory Tailwinds in Japan
SBI’s work with XRP is also tied to Japan’s evolving regulatory stance on digital assets. Japan has been one of the more forward-thinking jurisdictions when it comes to crypto, and its Financial Services Agency (FSA) is reviewing proposals that would lower taxes and reclassify cryptocurrencies in a way that could make institutional adoption easier.
If these reforms pass, financial groups like SBI would face fewer barriers to expanding their crypto businesses. That includes launching ETFs, integrating stablecoins, and developing blockchain-based settlement systems. SBI has already filed for the country’s first crypto ETF featuring both Bitcoin and XRP. Approval of such products would mark a significant milestone, signaling that Japan is ready to treat digital assets as part of mainstream finance.
Why SBI Matters for XRP’s Future
The importance of SBI Holdings to XRP cannot be overstated. First, its sheer scale of holdings makes it a “whale” with the power to shape liquidity and influence sentiment. When SBI moves XRP, the market notices.
Second, SBI is actively building use cases around XRP. By running validator nodes, launching remittance services, and integrating XRP into its ecosystem, it provides the kind of real-world demand that most crypto projects struggle to achieve. This strengthens XRP’s narrative as more than just a speculative token.
Third, SBI acts as a signal for other institutions. Its deep commitment shows that large, conservative financial firms can embrace digital assets in meaningful ways. This legitimacy helps encourage adoption by other banks, payment providers, and asset managers, potentially creating a network effect that benefits XRP.
Finally, SBI’s regulatory environment matters. By operating in Japan—a country that has shown willingness to regulate and support digital assets—SBI can experiment with products like ETFs and stablecoins that might not yet be possible in stricter jurisdictions. These innovations could then serve as models for other markets.
Frequently Asked Questions
What recent developments has SBI Holdings announced regarding XRP?
SBI Holdings is considering the launch of crypto ETFs that may include XRP. They clarified that these products are still in the planning stage. The company also recently stated it would not count the value of XRP held in escrow by Ripple until either an IPO occurs or a trusted third-party values it.
How is SBI Holdings leveraging XRP in the Japanese market?
SBI Holdings has deep ties with Ripple and is pushing for greater use of XRP in cross-border payments within Japan. The company supports projects and partnerships that bring blockchain solutions into the Japanese financial system. This includes exploring ways to help banks and other institutions adopt faster and cheaper payment infrastructure.
What is the projected impact of SBI's involvement with XRP for the year 2025?
SBI’s participation could lead to increased adoption of XRP among institutions in Japan. Some market watchers expect that new investment vehicles and strategic buyback plans may help boost both the visibility and stability of XRP. However, these impacts depend on regulatory developments and acceptance from other major financial players.
What is the current net worth of SBI Holdings considering its investment in cryptocurrencies like XRP?
SBI Holdings reportedly holds about ¥1.6 trillion (around $10 billion) in Ripple and XRP assets. This valuation is higher than its own market capitalization, which is about ¥1.2 trillion. Not all of this valuation is currently included in their official financial statements due to how some assets are held.
What role does SBI Ripple Asia Co Ltd play within the partnership between SBI Holdings and Ripple?
SBI Ripple Asia Co Ltd is a joint venture focused on bringing Ripple’s blockchain technology to banks and financial institutions across Asia. It leads efforts to establish faster, more reliable cross-border payment systems using XRP. The company works on regulatory clarity and building partnerships throughout the region.
