News > FinTech, Blockchain

Japan’s SBI Holdings to Reward Shareholders With XRP

By NexChange
FinTech, Blockchain

Japanese financial giant SBI Holdings has announced that it will be rewarding shareholders with Ripple’s XRP, the world’s third-largest cryptocurrency by market cap.

According to The Block, the reward is part of an interim shareholder benefits program which is open to shareholders with 100 or more shares in the company. Eligible shareholders will receive 30 XRP coins, currently valued at $0.25 per coin, regardless of the number of shares they hold. All they need to do is open a free account with SBI VC Trade, the Japanese behemoth’s recently-launched crypto exchange, and SBI will transfer the XRP to their account.

SBI has had a long history with Ripple, the fintech company behind XRP. The two have been running a remittance venture called SBI Ripple Asia since 2016, and SBI CEO Yoshitaka Kitao joined Ripple’s board earlier this year.

Photo: iStock

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