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SBI Holdings paying shareholders’ dividends in XRP

30 Aug 2019 : 12:42
2 min read

The Japanese financial giant SBI Holdings has told its shareholders that it will be paying dividends in XRP. The official announcement was made by MorningStar Japan on Wednesday.

The newest dividend system of SBI is straightforward: they will pay out 30 XRP to shareholders with 100 or more shares. All those investors eligible to receive the digital currency first need to open an account with VC Trade, a company has been registered as Virtual Currency Exchange Service Provider since 2017.  According to its website:

“SBI VC Trade’ mission is to create and nurture a wholesome digital asset and cryptocurrency market, based on “Customer-centric Principle,” as an innovative-service pursuer. SBI VC Trade will constantly strive to provide the narrowest spread level to achieve higher customer satisfaction.”

Regarding Ripple and SBI, this is not the first time we heard from the Japanese giant supporting XRP’s vision, as the two firms has built a long path together. Ripple and SBI started partnering with the launching of the MoneyTap application last year. Also, when Ripple released its global remittance tool, SBI Board commented the following “XRP will be one of the important asset classes in asset management.”

In conclusion, this seems to be the first type of “crypto-dividend” experienced by the world and it is a huge step towards adoption. The Fintech sector is now more than ever before, exploring and experimenting with Ripple’s remittance tool, making even more attractive the current value of the world’s third-largest cryptocurrency by market capitalisation.

Image licensed via Shutterstock

Michela Silvestri

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