SBI Holdings Shareholders Receive 30 XRP Tokens

Japanese financial services giant SBI Holdings has launched an XRP Ripple token distribution program for its shareholders. However, for the promotion, this token distribution does not look too generous.

Shareholders holding 100 or more shares of SBI Holdings will receive 30 XRP tokens, said
company on wednesday. The cost of one XRP is currently estimated at $ 0.25, and 1 share of SBI Holdings costs about $ 19.7, that is, the holder of 100 shares will receive in tokens only 0.4% of the value of his package.

Shareholders wishing to receive XRP will need to open an account on SBI VC Trade cryptocurrency exchange, and SBI Holdings will then transfer XRP from its account to shareholders’ accounts, according to the announcement.

The deadline for applying for the program is March 31, 2020. The company said it would give shareholders more detailed information about the program in mid-November.

SBI Holdings also has a joint project with Ripple, the developer and largest owner of XRP. SBI Ripple Asia was established last year and launched
MoneyTap payment application. The application provides real-time interbank money transfers using Ripple’s xCurrent solution.

Read This Now: Stock markets collapse and Trump gives no indication

This spring, SBI announced
profit of $ 3.2 million for the first year of operation. Then SBI announced that it was considering launching a token-share offering (STO) later this year.