SBI Holdings Considering XRP Shareholder Benefit Program

SBI Holdings Considering XRP Shareholder Benefit Program

  • Japanese financial services giant SBI Holdings is considering issuing XRP as a dividend to shareholders.
  • Morningstar, a subsidiary of SBI, began offering XRP to clients earlier in the year. 

Japanese financial services group SBI Holdings is considering paying shareholder dividends in XRP. 

Earlier in the year MorningStar Japan, a subsidiary of SBI, began offering shareholders the option of receiving dividends in XRP. Now the Tokyo-based parent company is considering doing the same in an effort to boost adoption for cryptocurrency. 

According to a report by CoinTelegraph Japan, SBI CEO Yoshitaka Kitao said the financial services group is open to the possibility of an XRP shareholder benefit program. Speaking at a meeting for shareholders on Dec. 2, Kitao said the program would begin during the fiscal year ending in March 2020, and would be an opt-in for clients willing to accept crypto dividends. 

Kitao revealed the number of applications for the SBI VC Trade digital currency exchange has increased following Morningstar’s decision to offer XRP benefits. 

SBI Holdings has a history of working with Ripple, the parent company behind XRP, including their joint venture SBI Ripple Asia in 2016 to promote the use of XRP. According to a financial report released in Oct. 2019, SBI highlighted the importance of Ripple’s technology for use in its remittance division. 

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