Japanese financial services giant SBI Holdings is reportedly going to reward shareholders who hold more than 100 share of its firm with 30 XRP later this year.
According to the company’s announcement, shareholders who hold over 100 shares of SBI Holdings will received the 30 XRP benefit if they create a free account at the firm’s cryptocurrency exchange SBI VC Trade. After doing so, they’ll receive the 30 XRP from SBI on their exchange account.
Eligible shareholders will have to apply to receive the benefit until March 31 of 2020. SBI Holdings is set to email its shareholders about the program later this year, in mid-November. As recently covered SBI Holdings has a joint venture with Ripple, the largest XRP holder.
Ripple's Brad Garlinghouse Defends XRP Selling https://t.co/yaqX1rcH56 #Ripple #XRP #BradGarlinghouse #Bitcoin
— CryptoGlobe (@CryptoGlobeInfo) August 28, 2019
CryptoCompare data shows one XRP is currently trading at around $0.251, which means the 30 XRP reward is worth roughly $7.5. SBI Holdings is trading at little over 2,000 JPY ($18.8) per share.
The venture, called SBI Ripple Asia, was formed last year and recently launched a payments app called MoneyTap. It can be used to transfer money in real time between banks using Ripple’s xCurrent, a solution that doesn’t use the XRP token.