SBI Holdings, a key partner of Ripple, recently shared important details about XRP in its latest financial report for the fiscal year ending in March 2025. While the report was originally published on February 7, it only recently caught the attention of the XRP community after being highlighted by WrathofKahneman (WOK), a well-known industry analyst.

According to the report, as of February 2, 2025, there are 57.76 billion XRP in circulation out of a total supply of 100 billion, with a market capitalization of approximately $133 billion. Since its inception, the XRP Ledger has burned around 13.6 million XRP through transaction fees, a built-in mechanism designed to reduce spam transactions.

Ripple currently holds 4.79 billion XRP, while 37.43 billion XRP remain locked in escrow. This system ensures a gradual release of XRP to prevent oversupply and maintain price stability.

SBI also emphasized how XRP has benefited its shareholders. Since 2020, it has distributed XRP five times, with an initial market value of $0.35 per XRP. By February 6, 2025, that value had surged nearly sevenfold to $2.50 per XRP.

The longstanding partnership between SBI and Ripple continues to strengthen. SBI, which owns 9% of Ripple, is the company’s largest external shareholder. In 2016, both firms established SBI Ripple Asia, aimed at enhancing remittance services across the Asia-Pacific region. By 2021, SBI Remit had launched Japan’s first international remittance service using XRP as a bridge currency.

The collaboration has since expanded into new ventures, including plans to launch NFTs on the XRP Ledger at Expo 2025 in Osaka and the recent introduction of RLUSD, a USD-pegged stablecoin.

With XRP’s continued growth and increasing integration into financial services, SBI’s latest report highlights both the asset’s rising adoption and the deepening relationship between Ripple and its largest external partner.

By Alejandro Silva Ramírez, Crypto Analyst & Columnist