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SBI VC announces Interim Shareholder Benefit campaign with XRP

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SBI announces Interim Shareholder Benefits campaign with XRP
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Ripple’s efforts towards XRP adoption led to a partnership with SBI Holdings, which led the way to a joint venture “SBI Ripple Asia”, to promote the use of the Virtual currency in Asian markets.

Under the said partnership, SBI announced Shareholder Benefits Campaign to grant them with 30 XRP, on August 28. An excerpt from the announcement read:

“We would like to provide our shareholders with the opportunity to use the virtual currency XRP in addition to the information provided by the “My Virtual Currency” app. “

The campaign was implemented to return profits to shareholders, as the company continues to increase dividends for the 10th consecutive period until the end of the fiscal year. The Shareholders Benefits will also be available at the end of the fiscal year, noted SBI’s announcement.

SBI has applied for market changes at the Tokyo Stock Exchange and announced the increase of the interim dividends along with presenting the shareholders with XRP as an intermediary. SBI and Ripple’s partnership had extended a position for the SBI CEO, Yoshitaka Kitao in Ripple and now, he serves as an executive at Ripple Labs Inc.

SBI previously carried out similar campaigns where its users enjoyed free XRP coins. On August 23, SBI launched another promotional campaign for XRP where the customers could bag 200,000 yen worth XRP. Moreover, the new account holders too were offered XRP worth 1,000 yen as their accounts went live.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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