Altcoin News: SBI Holdings Shareholders Receive 30 XRP Tokens

August 29, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Japanese financial services giant SBI Holdings has launched an XRP Ripple token distribution program for its shareholders. However, for the promotion, this token distribution does not look too generous.

Shareholders holding 100 or more shares of SBI Holdings will receive 30 XRP tokens each, the company said on Wednesday. The price of one XRP is currently estimated at $0.25, and 1 share of SBI Holdings costs about $19.7, that is, the holder of 100 shares will receive in tokens only 0.4% of the value of his package.

Shareholders wishing to receive XRP will need to open an account on SBI VC Trade cryptocurrency exchange, and SBI Holdings will then transfer XRP from its account to shareholders’ accounts, according to the announcement.

The deadline for applying for the program is March 31, 2020. The company said it would give shareholders more detailed information about the program in mid-November.

SBI Holdings also has a joint project with Ripple, the developer and the largest owner of XRP. SBI Ripple Asia was established last year and launched the MoneyTap payment application. The application provides real-time interbank money transfers using Ripple’s xCurrent solution.

This spring, SBI announced a profit of $3.2 million for its first year of operation. Then SBI announced that it was considering launching a token-share offering (STO) at the end of this year.

Author: Marko Vidrih