SBI Holdings says its stake in Ripple is still worth ¥6.6 trillion ($41.2 billion), even as XRP's price stays weak and its own crypto segment slows. The disclosure came during the Japanese financial group's fiscal first-quarter earnings call, alongside record profit numbers and new moves in stablecoins and exchange M&A.
The Japanese financial group confirmed during its first-quarter earnings call that it still holds a Ripple stake valued at ¥6.6 trillion ($41.2 billion), despite recent XRP price weakness.
SBI Doubles Down on the Ripple Stake
SBI said its cryptocurrency business remains sluggish, as if waiting to see whether the CLARITY Act becomes law. Even so, it stressed during the same call that, according to SBI, "Ripple shareholding alone is worth ¥6.6 trillion."
CLARITY Act Vote Still Pending in the Senate
The uncertainty traces back to Washington. Senator Cynthia Lummis said lawmakers still hope to vote on the CLARITY Act before the August recess, though a continuing resolution, a nomination and a sanctions vote are competing for the Senate's remaining floor time. She added that Senate Majority Leader John Thune has kept a place for the bill on the agenda and intends to bring it to a vote, even though the exact timing could fall anywhere in the following days.
Record Profit Overshadows a Weak Crypto Segment
Beyond the Ripple stake, SBI posted its most successful first quarter ever. Revenue rose to ¥571.0 billion and profit before tax climbed to ¥225.8 billion. Net profit attributable to shareholders reached ¥148.1 billion, up 149.9% year over year, and return on equity for the past year stood at 29%, above the group's 15% medium-term target. Still, the crypto asset business posted a ¥1.4 billion pretax loss, even as global market maker B2C2 stayed profitable within that segment.
SBI is also widening its digital-asset footprint. It launched crypto lending and support services through its JPYSC yen stablecoin on SBI VC Trade. Its planned acquisition of Bitbank aims to grow crypto accounts to about 3 million and assets under custody to ¥870 billion.
Source: CoinGape
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