SBI Holdings announced on February 21 a decision to implement shareholder incentives at the end of the year. In this case, the Ripple XRP cryptocurrency will be used as a bonus. So the largest bank in Japan previously announced the possibility of using XRP as an option for shareholders. In its latest SBI Group rollout announcement, it said:
“In addition to annual payments, we will provide shareholders with compensation packages at the end of the current fiscal year.”
Thus, shareholders who owned at least one unit [100 shares] or were registered in the register of shareholders as of March 31, 2020, were entitled to receive this compensation. According to the data provided by the bank, any shareholder with more than 1 share will be entitled to receive 50 XRP, which is equivalent to 1,545 yen [1 XRP = 30,90 yen]. SBI Group, SBI VC Trade, will help with a cryptocurrency account. Transfer 50 XRP to this account.
“The company paid shareholders 30 XRP as of September 30, 2019 as a bonus. In combination with annual bonuses of 50 XRP, compensation to shareholders will amount to 80 XRP. ”
SBI also said that any company included in the holding will receive bonuses in Ripple XRP. At the same time, the company is also involved in lawmaking. the company is trying to enforce the Law of Fund Regulation. The consideration of the law is scheduled for April.
The largest bank in Japan, along with Ripple, is making great strides at home and abroad. Ripple is working to expand the list of banks and financial institutions. SBI collaborates with leading banks in the country. This allows you to create a platform of financial services for enterprises and individuals using blockchain. In light of this development plan, Ripple is also partnering with Japan’s second largest bank, Sumitomo Mitsui Banking Corporation [SMBC], where the latter plans to invest in MoneyTap, the flagship product of Ripple and SBI Holdings.