By On August 28, 2019, Ripple partner from Japan, SBI Holdings announced its decision to implement Ripple’s cryptocurrency, XRP, as an interim dividend-like benefit to eligible shareholders.
Shareholders who hold 100 shares or more of SBI Holdings, and are in the ‘shareholder register’ as of September 30, will get 30 XRP coins, irrespective of the shares held by them. One XRP coin is currently valued at $0.25.
SBI Holdings aims to increase dividends as a way of sharing profits with its shareholders through this shareholder benefits program.
Qualified stakeholders must open an account with cryptocurrency exchange SBI VC Trade, and SBI Holdings will then transfer XRP from its account to the recipients’ accounts.
The deadline for applying for the scheme is March 31, 2020. The company has promised to email shareholders more details about the program in mid-November.
In a post on their official website, SBI Holdings said:
“As SBI Holdings, we have determined to grow the interim dividend to reward our shareholders as we have resolved to use the virtual token XRP as the default currency in the go-between shareholder benefit program.”
In addition to the benefits reward program, SBI Holdings is also awarding free stock coupons for ‘My Investment Trust Application’, a paid serve portion, and Stock News Web application.
The growing partnership between Ripple & SBI
Ripple (XRP) is well-known for its vibrant global remittance capabilities that are poised to grow in the future. On the other hand, SBI Holdings plans to partner more with the virtual currency as they consider it to be one of the most substantial asset classes in financial management.
SBI Holdings currently has a joint venture with Ripple, dubbed the SBI Ripple Asia, which was formed last year. It runs a payments application called ‘MoneyTap’, which provides bank-to-bank money transfers in “real-time” using Ripple’s xCurrent solution
The partnership between the two companies has, so far, been largely successful. Looking at Ripple, it consistently impresses various banks and financial institutions with its undeniably superior system that is sure to change the business world.
On its part, SBI holdings have done a great job boosting Ripple adoption across numerous platforms.
Further profit returns to shareholders
SBI Holdings is fixated on delivering accurate asset formation for each of its investors. It has already availed a treasure of investment data to them with no biases. They have also recently applied for market reforms to the Tokyo Stock Exchange for more profit returns to shareholders.
SBI Holding has been consistently providing virtual currency price updates and other related information via the ‘My Virtual Currency’ app that the company runs.
Recently, NASDAQ, had added Ripple’s XRP to its new index. They recently built the index on a new website, new.nasdaq.com. XRP ranked as the 3rdbiggest crypto asset on NASDAQ.
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