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SBI Is Offering Shareholders Option of Getting XRP as Reward for 2nd Year
SBI's support of XRP is a sign of the digital token's continued strong fan base in Japan.
Japan-based financial-services company SBI Holdings said it will give its shareholders the option of receiving the embattled XRP cryptocurrency as a benefit for the second year in a row.
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- In an announcement Friday, SBI Holdings said shareholders with 100 or more shares can receive XRP worth 2,500 yen ($22.92) as a way of thanking them for their support.
- The amount of XRP given to holders will be determined on June 30, and shareholders will have until May 31 to apply for the perk.
- SBI's support of XRP is a sign of the digital token's continued strong fan base in Japan, which is in contrast to its position in the U.S. where most exchanges have stopped trading in the cryptocurrency.
- In December, the U.S. Securities Exchange Commission (SEC) sued XRP's issuer, Ripple Labs, claiming XRP is an unregistered security.
Read more: Japan Rallies Behind XRP as Ripple Faces US Litigation
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
