Japan’s new prime minister is Yoshihide Suga. Among Suga’s consultants will be Yoshitaka Kitao, CEO of the Japan-based SBI Group and also sits on Ripple’s board of directors.
Shinzo Abe, who served as the prime minister of Japan for eight years, announced that he was leaving his post for health reasons. It was announced that Yoshihide Suga, who took over the Liberal Democratic Party this week, will take his place.
The names of the consultants to be appointed by Yoshihide Suga after taking over the post have been announced. In addition to economists such as Heizo Takenaka, bureaucrats such as Hiroto Izumi, Yoshihide Suga is also on the list of Japanese Prime Minister. This name may sound familiar, especially to cryptocurrency followers, as he is a board member of Ripple.
Kitao, 69, is also CEO of Japan’s financial giant SBI Holdings. Kitao, who is closely interested in blockchain technology, sees a bright future for Ripple. Kitao, who joined the company’s board of directors in April 2019, said the following about Ripple:
“Blockchain and digital assets are changing the way we behave, and the engine behind this positive change is Ripple. I am very happy to have a role in the future of the company. ”
Does Ripple Wind Work in Japan?
Japanese giant SBI Holdings has been collaborating with Ripple since 2016. In line with this cooperation, the two decided to establish a branch called SBI Ripple Asia. In line with the joint efforts, a blockchain application called MoneyTap was developed, which enables instant payments.
What it will mean for Ripple is that Kitao will take on Suga’s consultancy is not yet known. However, according to Reuters, Japanese Prime Minister and Kitao; It plans to prepare a new reform for local banks and to establish a new financial center near Tokyo.