Japan’s SBI Will Distribute XRP As Shareholders’ Benefit in 2020

Japan’s financial services company group SBI Holdings plans to present its shareholders the option to get XRP as a benefit.

Announced on January 31, the new options will allow shareholders to get as much as 8,000 yen worth of the digital asset XRP (approximately $74). The record date for receiving the benefits is March 31.

On March 31, SBI shareholders in Japan who will hold from 100 to 1,000 shares, and those who will hold over 1,000 shares less than a year, will be allowed to obtain 2,000 yen (approximately $18) worth of XRP.

Those holding more than 1,000 shares for over a year as of March 31 will be able to receive 8,000 yen in XRP. According to CoinMarketCap, the current value of XRP constitutes around $0.25.

However, in order to receive the benefit shareholders should meet certain requirements. Only those who are Japan residents and have an account at SBI’s crypto exchange VC Trade will be able to get XRP.

SBI also presented an alternative, allowing shareholders to receive health supplements from SBI Holdings’ subsidiary SBI Alapromo.

Japan’s SBI group is known to be disbursing benefits in XRP. In August 2019 Morningstar Japan K.K., another SBI Holdings’ subsidiary, distributed the digital asset to shareholders as well.

SBI is one of the leading investors in Ripple. In December last year the group took part in its $200 million Series C funding round.