Ripple and XRP News

Ripple partner SBI Holdings Using XRP as Interim Shareholder Benefits

Last updated

5 years ago

August 29, 2019

In a press release, Ripple Japanese partner SBI Holdings reveals that the XRP cryptocurrency will be the interim shareholder benefits currency accessible for eligible shareholders.

Who these Eligible Shareholders Are?

SBI Holdings has long been bullish on Ripple, its underlying technologies and its native token, XRP. The partnership between two giants, Ripple and SBI holdings will run a joint venture, SBI Ripple Asia which intends to encourage the adoption of XRP across Asia. It says that;

“We decided to increase the interim dividend, and at the same time, decided to present the virtual currency XRP as an intermediary shareholder benefit program.”

The announcement reads that the eligible shareholders are those who will hold one unit/ 100 shares or more and maintained the same in the shareholder register. It further states that as of Sept 30, the eligible shareholders will receive 30 XRP cryptocurrencies. As the official release states, the firm wants to increase the dividends for the 10th consecutive interval. This comes as a way to share profits among the shareholders via a shareholder benefits program.

Moreover, eligible shareholders will receive more details about this in mid-November and will more likely obtain an account open coupon in the Shareholder Special Offers. This shareholder’s account will later receive XRPs from the company’s account.

To remind, SBI’s joint venture with Ripple, SBI Ripple Asia runs a payment app called MoneyTap. The app helps the quick and real-time transfer of funds using Ripple’s xCurrent solution which doesn’t use XRP, unlike xRapid solution.

The update of SBI Holdings announcing shareholder benefit program was quite impressive to overall XRP community. But this isn’t true in terms of the daily trading value of XRP as it remains in a negative trading zone in crypto market. Nevertheless, the coin is currently declined with over 5 percent within the past 24 hours and trading at the value of $0.25 against USD.