Brad Garlinghouse, Ripple's chief executive, said in a Bloomberg interview this week that Japan stands as his company's most likely destination if it departs the United States. The San Francisco firm
Brad Garlinghouse, Ripple's chief executive, said in a Bloomberg interview this week that Japan stands as his company's most likely destination if it departs the United States.
The San Francisco firm has grown frustrated with American regulatory direction. Two weeks earlier, Ripple executives warned they would relocate if lawmakers did not reconsider their approach to crypto. The interview confirms Ripple is following through on that warning. Regulators have shown no movement.
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Garlinghouse named Japan and Singapore as the pair of markets under consideration. Japan emerges as the preferred option. Ripple maintains deep ties there through SBI Holdings, the Tokyo-based financial giant. The two firms built SBI Ripple Asia together in May 2016, a joint venture where Ripple retained 40% ownership while SBI took the remaining 60%.
"We have a very successful partnership there [Japan] with a group called SBI. They are actually our largest outside investor, and the CEO there, Kitao-san, has been an innovator and pioneer in a lot of things around finance and technology," Garlinghouse said.
Ripple already has SBI in discussions about a potential relocation. Garlinghouse emphasized that Japan's regulatory environment stands far ahead of America's. The nation has built a reputation for welcoming blockchain development.
Yoshitaka Kitao, who runs SBI, joined Ripple's board a year ago. Prime Minister Yoshihide Suga recruited Kitao last month to serve as his economic advisor, signaling Japan's top leadership views the SBI chief as a technology strategist.
Singapore offers another option. Ripple opened an office there late in 2019 to support its Asia-Pacific growth. The company is also exploring relocations to Switzerland, the United Arab Emirates, and the United Kingdom.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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