The confusion apparently stemmed from a social media post claiming that SBI, a longtime Ripple partner, "held $10 billion worth of XRP" and was expanding its presence in Asia through the acquisition of Singapore-based crypto platform Coinhako.

However, SBI Holdings Chairman and CEO Yoshitaka Kitao publicly denied this claim.

Not $10 billion in XRP, but about 9% of Ripple Lab's shares. "So our hidden asset could be much larger," he stated.

This means SBI does not directly own a significant amount of XRP. Instead, the Japanese financial services giant holds approximately 9% of the shares of Ripple Labs, an American blockchain payments company closely associated with XRP.

SBI has been one of Ripple's most important strategic partners in Asia for many years. The company supports joint ventures and promotes Ripple's cross-border payment solutions throughout the region. Its stake in Ripple Labs represents a corporate investment, not a treasury holding of XRP.