SBI Is Offering Shareholders Option of Getting XRP as Reward for 2nd Year

SBI's support of XRP is a sign of the digital token's continued strong fan base in Japan.

AccessTimeIconMar 12, 2021 at 10:06 a.m. UTC
Updated Sep 14, 2021 at 12:25 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Japan-based financial-services company SBI Holdings said it will give its shareholders the option of receiving the embattled XRP cryptocurrency as a benefit for the second year in a row.

  • In an announcement Friday, SBI Holdings said shareholders with 100 or more shares can receive XRP worth 2,500 yen ($22.92) as a way of thanking them for their support.
  • The amount of XRP given to holders will be determined on June 30, and shareholders will have until May 31 to apply for the perk.
  • SBI's support of XRP is a sign of the digital token's continued strong fan base in Japan, which is in contrast to its position in the U.S. where most exchanges have stopped trading in the cryptocurrency.
  • In December,  the U.S. Securities Exchange Commission (SEC) sued XRP's issuer, Ripple Labs, claiming XRP is an unregistered security. 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.