SBI Holdings, one of the biggest investors in Ripple and a RippleNet member has announced that it will offer XRP as a benefit to shareholders.
According to the announcement:
- Shareholders holding 100 to less than 1,000 shares in the shareholder registry as of March 31, 2020, or shareholders holding 1,000 or more shares and holding for less than one year will be able to receive 2000 Yen worth of XRP (approximately 77 XRP at the time of writing) or a product set sold by SBI Holdings subsidiary SBI Alapromo Co., Ltd.
- Shareholders who have been holding shares for more than one year and have 1,000 or more shares in the shareholder registry as of March 31, 2020 will be able to receive 8000 Yen worth of XRP (approximately 311 XRP at the time of writing) or a product set sold by SBI Holdings subsidiary SBI Alapromo Co., Ltd.
Only the residents of Japan who hold an account or open an account with SBI VC Trade Co., Ltd. can select XRP as a shareholder benefit. Shareholders will also need to apply, details will be announced separately. The details of the method and timing of the gift of shareholder benefits will be announced once details are determined.
The decision for introducing XRP benefits was made back in February 2019 and first announced in the fall of 2019.
XRP is at the center of SBI Holdings’ crypto-asset strategy and it is expected that in Q1 2020, Japanese institutions will start using On-Demand Liquidity, with SBI being at the forefront of this innovation.