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.