SBI Reveals Details of XRP Cryptocurrency Shareholder Remuneration Plan

Crypto News | Cryptocurrencies

The Japanese financial services company SBI Holdings this Friday announced its readiness to distribute remuneration in the XRP cryptocurrency among its shareholders. They are also given the opportunity to receive a reward in the form of a product from the SBI Alapromo division, which works in the field of healthy nutrition and cosmetics.

Under the terms of the program, shareholders who recently joined the company will be able to receive XRP for 2,000 yen ($ 18) on March 31, while those who have stayed with it for more than a year will receive cryptocurrency for 8,000 yen ($ 73.50). They must have at least 100 SBI shares at their disposal.

At the same time, only residents of Japan who have an account on VC Trade’s SBI cryptocurrency exchange can receive an award in XRP. The platform was launched in 2018 – then it became the first bank-controlled cryptocurrency exchange in Japan. XRP will be credited to stock exchange accounts of shareholders.

SBI announced its intention to attach the holders of its shares to the cryptocurrency developed by its partner last year. Earlier, SBI and Ripple jointly launched a payment application for residents of Japan called “Money Tap”. According to companies, it has an important advantage over traditional bank transfers, since, unlike banks, it operates around the clock.