SBI Holding’s eSports Subsidiary to Pay Gamers in Ripple’s XRP In Sponsorship Deal with VC Trade
- A Japanese firm to pay its e-sports players in XRP.
- This aims to target the digitally-focused individuals in the e-sports industry.
SBI e-sports, a subsidiary to Japanese conglomerate SBI Group, announced a strategic partnership with the group’s venture capital wing, SBI VC Trade Co., Ltd. The partnership will set in a new digital-focused mindset to the e-sports wing, with SBI eSport’s players set to be paid annual salaries in the fourth largest digital asset, XRP.
This is a voluntary option to players who wish to enter into the cryptocurrency ecosystem; the statement read:
“Through this partnership, if a player belonging to ‘SBI e-Sports' wishes to do so, the annual salary will be paid by the crypto asset ‘XRP'”
SBI Group Holdings is a partner with XRP’s top custodian, Ripple, and takes significant steps in the crypto and blockchain scene. Its venture capital wing deals with digital assets and exchanges to provide a reliable, safe, and secure platform to transact and store assets to their institutional and retail investors.
The addition of XRP to its eSports wing aims to diversify its holdings and provide a gateway for digital asset users. VC Trade statement on the partnership reads,
“We aim to create and nurture a healthy market based on customer-centricity, improve prices, expand liquidity, etc.”
SBI Holdings entered the gaming scene with its eSports platform. Ripple also has had previous ties in the gaming industry. In March 2019, BEG reported Ripple For Developers, a group leading development on Ripple, announced a $100 million fund for Forte developers, a blockchain-based gaming platform.