SBI Holdings CEO Joins Ripple Board of Directors
Yoshitaka Kitao, CEO of Japanese financial corporation SBI Holdings, has been appointed to a senior position in the American fintech company Ripple Labs Inc., writes Cointelegraph.
SBI Holdings is an active partner of Ripple and since 2016 has been conducting a joint venture with it SBI Ripple Asia, focused on promoting the company’s cryptocurrency and blockchain products in the Asian financial markets. In October 2018, SBI and Ripple launched MoneyTap, an XRP-based payment application that uses the xCurrent blockchain solution to make internal interbank transfers for customers in Japan..
According to SBI, the appointment of Kitao to the Ripple board of directors will help “further spread the use of blockchain and digital assets by financial institutions in Japan and Asia.”.
“Blockchain and digital assets are changing the way remittances are done around the world, and Ripple is driving this positive change,” Kitao said. “I am glad that I had the opportunity to share my experience and become a part of the next stage of the company’s development”.
Before founding SBI Holdings in 1999, Kitao served as CFO of the investment firm Softbank.
Commenting on the latest news, Ripple Co-Founder and Chairman of the Board Chris Larsen said, “I am delighted to welcome Yoshitaku Kitao to the board of directors of our company. Kitao has a deep understanding of the financial services industry and will provide valuable support in further scaling Ripple. About half of our clients are located in the Asia-Pacific region, where we are rapidly increasing our presence. Kitao joins us at the right time as we strive to expand our user base in Asia and beyond. “.
Earlier this week, Ripple released a financial report, according to which the company’s revenue from the sale of cryptocurrency XRP in the first quarter grew by 31%.
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