Financial Giant And Major RippleNet Partner SBI Considers Shareholder Payouts In XRP

The recognized Japanese financial company SBI is analyzing the possibility of issuing  XRP tokens as a reward for shareholders. This is according to the CEO of the company, Yoshitaka Kitao, that addressed shareholders in a recent conference.

XRP became the third largest cryptocurrency in the world after several years of work by Ripple to increase its use cases and expand the number of companies working with the cryptocurrency.

Now, SBI is analyzing the possibility of offering XRP benefits to shareholders by March 2020. SBI is a very important company for Ripple, considering it is one of the most active partners it has in Asia and the region. Indeed, these two companies are currently running the SBI Ripple Asia payment platform for users.

The decision to give XRP to users comes after SBI Morningstar decided to give XRP to shareholders. Considering this testing was a success, the goal is to expand the initiative with other branches of the company.

It is worth mentioning that Kitao is also a Ripple board member, meaning they assess the benefits and costs of giving XRP to some of their clients. One of the most important reasons why they want to continue with this initiative is related to the fact that the number of subscriptions to the company’s exchange SBI VC Trade grew after the XRP giveaway.

At that time, users had to create an account on SBI VC Trade in order to redeem the cryptocurrencies received. In the future, it may be possible for users to decide whether they want their benefits in XRP or not.

XRP is currently being traded close to $0.2145 and it has a market valuation of $9.29 billion.

The company, SBI Crypto is also working so as to expand in the cryptocurrency market by opening two new mining facilities before the end of this financial year. One of them will be opened in the United States while another one in Kyrgyzstan.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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