The giant cryptocurrency company Ripple has not given up on its plans to go public, despite the ongoing legal battle with US regulators, according to SBI Group CEO.
Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, said Ripple plans to go public following the conclusion of the lawsuit filed by the US Securities and Exchange Commission (SEC).
In a statement released Wednesday, Kitao suggested that both Ripple CEO Brad Garlinghouse and Chris Larsen are considering taking Ripple public:
“Ripple will go public after the lawsuit. The current CEO wants this. So is Chris. “
Kitao said SBI, Ripple’s largest non-corporate shareholder, could get its investment back after Ripple goes public.
Garlinghouse signaled going public last year, saying that the first public offerings were becoming increasingly common in the crypto and blockchain industry.
Last year, the SEC sued Ripple and its executives for violating securities laws with sales of $ 1.3 billion of XRP.