SBI Holdings’ recent 10 billion yen blockchain bond — and its CEO’s blunt bullishness on XRP — may reveal more about Japan’s strategic bet on the token than any price call.
What happened
- In February 2026 Tokyo-based SBI launched a 10 billion yen (about $64 million) blockchain bond that pays investor returns in XRP — the first time a major Japanese financial institution has structured a product this way.
- The bond sits alongside plans to list Ripple’s RLUSD stablecoin on SBI’s licensed exchange in Japan and a new collaboration between SBI Ripple Asia and the Asia Web3 Alliance Japan to fund startups building financial services on the XRP Ledger.
Why it matters
- SBI is not a casual Ripple backer. It has been Ripple’s largest external shareholder since the two firms created SBI Ripple Asia in 2016 and has spent nearly a decade building cross-border payment corridors across Japan, South Korea, India and the Philippines. That history represents real product and infrastructure commitments, not just announcements.
- Issuing a bond that pays in XRP — in a jurisdiction where crypto product approvals are carefully scrutinized — signals an institutional-level commitment to the asset and its ecosystem.
CEO comments reignite debate
- SBI CEO Yoshitaka Kitao publicly declared that “XRP will be very expensive,” and suggested a favorable US court ruling in the ongoing Ripple regulatory case could trigger a significant price move. His remarks were amplified on social media on April 3, 2026 by crypto commentator Stellar Rippler.
- Kitao reportedly expected a ruling within weeks based on circulating reports, though no official court date has been confirmed.
Bottom line
SBI’s bond, RLUSD plans and startup funding partnership collectively show the firm is doubling down on XRP through capital, product innovation and institutional relationships. For market observers, that may be a more consequential signal about XRP’s long-term role than short-term price forecasts.
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