PANews reported on November 18 that according to Bitcoin.com, Yoshitaka Kitao, CEO of Japanese financial giant SBI Holdings, suggested that Ripple should prepare for an initial public offering (IPO) as soon as possible after resolving legal issues with the U.S. Securities and Exchange Commission (SEC) to seize market opportunities.

Yoshitaka Kitao has supported Ripple since 2017, viewing it as an important partner in promoting innovation in cross-border payments and emphasizing XRP's advantages in efficiency, low cost and scalability. He also joined the Ripple board of directors in 2019 to help expand its business in Japan and the Asia-Pacific region.

Although Ripple CEO Brad Garlinghouse previously stated that the company has no IPO plans due to its sound financial situation and the severe regulatory environment in the United States, the IPO prospects have attracted much attention as optimism about the growth of the XRP market and the improvement of the regulatory environment has increased. Ripple's legal battle won a partial victory in 2023, with the court ruling that XRP itself is not a security, but it still faces SEC appeals and continued regulatory pressure, and its future development is highly dependent on the final resolution of the legal dispute.