JAKARTA – SBI Holdings, a giant financial services company from Japan recently announced that it will give its shareholders the option to receive XRP crypto for the third year in a row. This shows the company's support for Ripple which is at odds with the SEC.
According to Morningstar, the company SBI Holdings will offer all shareholders with 100 or more shares by March 31 the option to receive 2.500 Japanese yen (approximately 21 US dollars) in XRP tokens. The 2.500 yen reward is for every batch of 100 tokens.
The company first started offering XRP benefits to shareholders in 2019. SBI Holdings has a history of partnerships with Ripple, the developer of the XRP token, including their joint venture SBI Ripple Asia in 2016 to promote the use of XRP.
Previously SBI Holdings launched a crypto asset fund last year that invested in XRP and four other popular crypto assets such as BTC, ETH, BCH, and LTC. At the time Tomoya Asakura, President of SBI affiliate Morningstar Japan KK, revealed that the fund would require an investment of at least 1 million yen (8.400 US dollars).
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Last year, SBI Holdings launched a new cryptocurrency lending service that allows users to earn an annual interest rate (APR) of 1 percent on their bitcoin holdings, with plans to expand the service to ETH and XRP.
In the announcement of the new feature, dubbed 'VCTrade Lending' SBI details that users will be able to lend a minimum of 0.1 BTC (approximately to IDR 58 million at the time of writing) and a maximum of 5 BTC (IDR 2.9 billion).
In addition, SBI Holdings is also rumored to have acquired a crypto exchange in Japan called TaoTao Exchange for an undisclosed fee. This happened after the failure of negotiations between TaoTao and Binance to realize a strategic partnership. The cause of this failure is unknown.
SBI shareholders could see the value of their XRP spike if the predictions of Jeremy Hogan, a legal expert, and XRP advocate, come true. In June 2021, Hogan predicted that Ripple settling its lawsuit with the U.S. Securities and Exchange Commission (SEC) could lead to a supply shock for XRP, which would probably lead to a price spike as demand would stay the same while supply dwindles, as summarized from CryptoGlobe.
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