In reference to the rumors that circulated online and on social media that SBI Holdings has a stock worth of tokens valued at 10 billion dollars the CEO of the company, Yoshitaka Kitao, has come out to refute and dispel the rumors. As an immediate reaction to the spreading rumor, Kitao made it clear that SBI does not hold so much $XRP .

The misunderstanding started when a social media report applauded SBI to expand in Singapore and falsely claimed that the financial giant possessed 10 billion pounds of $XRP . This assertion was rapidly spread in the crypto world. Kitao, however, did not take long to correct the misinformation and it was evident that the statement was false.

As opposed to possession of billions of XRP tokens in XRP, SBI has great interest in Ripple by its 9 percent equity ownership in Ripple Labs, the maker of XRP. This distinction is crucial. It is important to note that the possession of ipple shares is essentially different to the direct possession of XRP coins.

Since Ripple has been valued at approximately 50billion dollars, the 9 percent stake held by SBI can net billions of dollars. This would give SBI a high degree of strategic exposure to growth in Ripple without necessarily being impacted by the price fluctuations of XRP on a day-to-day basis.

Briefly, the XRP does not have a 10 billion reserve. The standing that SBI has is based on equity ownership with long-term strategic value but not speculative token exposure.

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