SBI Is Offering Shareholders Option of Getting XRP as Reward for 2nd Year
Japan-based financial-services company SBI Holdings said it will give its shareholders the option of receiving the embattled XRP cryptocurrency as a benefit for the second year in a row.
In an announcement Friday, SBI Holdings said shareholders with 100 or more shares can receive XRP worth 2,500 yen ($22.92) as a way of thanking them for their support.
The amount of XRP given to holders will be determined on June 30, and shareholders will have until May 31 to apply for the perk.
SBI’s support of XRP is a sign of the digital token’s continued strong fan base in Japan, which is in contrast to its position in the U.S. where most exchanges have stopped trading in the cryptocurrency.
In December, the U.S. Securities Exchange Commission (SEC) sued XRP’s issuer, Ripple Labs, claiming XRP is an unregistered security.