SBI Holdings pays shareholder benefit in XRP cryptocurrency

Japan’s SBI Holdings yesterday announced that the firm will payout Interim Shareholder Benefits to shareholders in XRP cryptocurrency. The company will give 30 XRP cryptocurrency to each of the shareholders who hold 100 shares or more of SBI Holdings as of September 30, 2019.

Eligible Shareholders will be notified by mid-Nov 2019 through email along with instructions to claim the benefit.

As of 31st March 2019, SBI Holdings had 121,424 registered shareholders.
Source: Company’s stock information.

Assuming the shareholders’ count remains the same by 30th Sept and all eligible for benefit claim, a total of 3,642,720 XRP will be distributed i.e. approx. 1 Million$ (XRP @ 0.25$ conversion rate).

To accept the offer, shareholders have to open an account with SBI VC Trade Co. by 31st Mar 2020. Once opened, SBI Holding will make the transfer of 30 XRP in the shareholder’s VC Trade account.

Recently, the long-time Ripple partner, SBI Holdings announced the launch of its virtual currency exchange service, “VCTRADE Pro”. It will initially list XRP/JPY, BTC/JPY, and ETH/JPY trading pairs.

Benefits paid in XRP to shareholders could be SBI Holdings way to onboard its shareholders to use the virtual currency XRP in its cryptocurrency exchange “VC Trade Pro”.