SBI Holdings, an established strategic business innovator group based in Japan, stated that the reward of its shareholders would be in Ripple’s XRP for the second consecutive year after the first year, which is going to end on the 31st of March.
This was made known in an official release from the SBI Holdings that the shareholders of the firm will receive a “Thank You” reward of about 2500 YEN or $22.92 for their immense support, and the payment is going to be in XRP.
It was added in the statement that the shareholders could choose the XRP rewards before May 31, which is a month before the determination of the exact individual amount for every shareholder on 30th June. This option was first introduced in August 2019, where the shareholders got the first rounds of their rewards from the company (which is 30 XRP for every 100 or more shares owned, and the round ends by March 31).
The Impact on XRP
One of the largest partnerships Ripple could ever have is with SBI Holdings, and it is expected that the support will play a big role in reassuring investors in their decision to invest in the currently turbulent cryptocurrency.
As a result of the class-action lawsuit filed against Ripple by the Securities and Exchange Commission of the United States, XRP has become more prevalent in Japan than it is in the United States. The reputation and the price of XRP as a product have been punctured when the US SEC filed the lawsuit against Ripple in December 2020 for naming XRP as unregistered security during its multiple sales of the token.
In just 24 hours of the news hitting the market, the token fell by almost 40%, and many market analysts wrote it off and declared that it is damaged beyond recovery, but the token rose back from the dip on February 23, 2020, showing a level of resilience.
Currently, XRP is trading at $0.44 after coming down for about 2.71% in the last 24 hours and taking the 7th position in the numbers of the largest cryptocurrency.
SBI Holdings and Ripple’s Position in Japan
The partnership between these two companies has its antecedent dated back to 2016, where they formed a conglomerate called SBI Ripple Asia to create in Japan and across all the Asian regions “an internet of value”.
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