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

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. 

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