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SBI Holdings CEO – Ripple Should Relocate To Japan & Leave U.S.

Japanese financial giant SBI Holdings CEO, Yoshitaka Kitao, has recently revealed that Japan is presumably the most favored country Ripple will relocate to, should it leave the U.S.

Within an official press briefing on 28th Oct., Kitao added that the blockchain-based payments firm “has made Japan the foremost promising candidate” for its new headquarters if Ripple makes good on its threats to maneuver its San Francisco offices. SBI Holdings may be 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 shortage of regulatory clarity within the U.S. Recently within this month, Larsen added that the firm was considering moving to countries just like the U.K., Switzerland, Singapore, or Japan because authorities within the U.S. had a “regulation through enforcement” policy and were “woefully behind” in preparing for the cryptocurrency-based next generation of a worldwide economic system.

In line with a recent report by Bloomberg, Ripple shortlisted Japan and Singapore. Garlinghouse added at the time that he had spoken to SBI about using the country as a possible location for its headquarters.

“Japan is one among our fastest-growing markets, partially because we’ve key partners like SBI,” added Garlinghouse.

SBI Holdings also added today that Ripple [XRP] had completed an investment in Japanese payments company MoneyTap, seemingly as a part of its plans to integrate Ripple-powered settlements across ATMs in Japan. The mixing is reportedly intended to offer users easier access to funds at Japanese ATMs, no matter their banking affiliation.

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