The Japanese financial giant SBI Holdings has launched a new remuneration program for shareholders. Shareholders receive XRP, the world’s third largest cryptocurrency.
Does everyone get XRP just like that?
Do you want free XRP? This is possible if you own at least one hundred shares of SBI Holdings. A share of the Japanese company is worth around 18 euros. You will receive no less than thirty XRP. No matter how many shares you own. At present, one XRP is worth 23 cents. So you get a total of just over 8 euros in XRP if you hold at least 1,800 euros in SBI shares in your portfolio. That 8 euro is of course subject to supply and demand:
Shareholders must do a small act for this. They must open a free account on the cryptocurrency exchange SBI VC Trade. Once the entire KYC mill is completed, SBI Holdings will transfer thirty XRPs from its account to the shareholder’s account. This promotion runs until March 31, 2020. The company says it will email shareholders more information about the program mid-November.
SBI and Ripple relationship
That SBI Holdings wants to pay its shareholders XRP should not come as a surprise. The Japanese company started a joint venture with Ripple last year. But maybe you could already get that from the name: SBI Ripple Asia. They have built a payment app called MoneyTap.
The app offers bank transfers in real time using Ripple’s xCurrent. However, the solution does not use XRP cryptocurrency as Ripple’s xRapid does.