SBI Holdings has valued its Ripple shares at roughly $41.2 billion, shrugging off the recent slump in XRP prices and a sluggish crypto market. At its first-quarter earnings briefing, the Japanese financial giant revealed a ¥6.6 trillion valuation for its Ripple holdings, emphasizing a long-term commitment to the partnership.
Ripple Relationship Defies Market Volatility
SBI has worked closely with Ripple for nearly ten years, co-founding SBI Ripple Asia in 2016 to advance blockchain-based payment solutions across Japan and other Asian markets. Even as XRP’s price weakened, the company stressed that its exposure to Ripple goes beyond short-term token fluctuations. SBI’s crypto asset business reported a ¥1.4 billion pretax loss this quarter, although other arms like market maker B2C2 stayed profitable.
Part of the uncertainty weighing on SBI’s crypto operations comes from ongoing U.S. legislative developments, specifically the CLARITY Act. This proposed bill would bring clearer regulatory definitions to digital assets, but its passage remains uncertain as lawmakers negotiate before the Senate recess in August. Senator Cynthia Lummis noted some optimism about its progress, with Senate Majority Leader John Thune keeping it on the agenda despite competing priorities.
SBI’s overall net profit surged 149.9% year over year to ¥148.1 billion in the first quarter, reflecting strengths outside its crypto ventures. Meanwhile, the company is pushing forward with expansion plans via the Canton Network and a new ¥3 billion crypto fund, signaling continued faith in blockchain technologies despite short-term market headwinds.
This material is for informational purposes only and does not constitute financial advice.
