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SBI Holdings, Japan’s largest financial and banking institution, has announced that it would give its shareholders the ability to earn XRP as a reward for the second year in a row. According to the official statement, owners with 100 or more shares will receive an XRP value of 2,500 yen [equivalent to $22.92] to show appreciation for their contribution.
The announcement noted:
“We would like to thank our shareholders for their continued support and patronage, deepen their understanding of the Group’s business, and continue to hold our shares over the medium to long term. For this purpose, in addition to the shareholder benefits provided during the current interim period, we will also provide shareholder benefits at the end of the current period.”
The sum of XRP to be given will be decided on 30 June and the shareholders will have until 31 May to apply for this benefit.
SBI launched this initiative last year and announced its growth strategy, which included a new market legislation and the implementation of the Fund Settlement Act. With the latest launch, the credibility of the XRP digital asset will continue to be preserved among its owners.
As Ripple and SEC battle the XRP status lawsuit, SBI has been giving unwavering assistance to the digital asset. SBI Holdings CEO Yoshitaka Kitao has already confirmed that XRP is not a defence regulator.
SBI had previously announced that it would encourage customers to lend XRP in exchange for interest, while maintaining a strong traction for the digital commodity. Meanwhile, SBI Holdings has been taking steps to extend its crypto presence through new joint ventures.