SBI Holdings Takes a Bold Step into Crypto Dividends

In a move that’s sending ripples through the financial world, SBI Holdings is contemplating handing out shareholder dividends in the form of XRP tokens. Yes, you heard that right: instead of tossing cash at investors, they might just be carrying crypto wallets instead!

Learning from MorningStar’s Approach

SBI’s decision comes hot on the heels of its subsidiary, MorningStar Japan, which had the audacity to sprinkle some digital sparkle on traditional dividends earlier this year. Their shareholders found themselves graced with a bonus of 30 XRP tokens, provided they owned a minimum of 100 shares. Remember, this isn’t your grandma’s dividend payment!

What’s the Game Plan?

CEO Yoshitaka Kitao dropped the news, hinting that this delightful program could officially launch during the fiscal year wrapping up in March 2020. The crowning glory? The program is entirely opt-in. So if shareholders aren’t feeling particularly crypto-savvy, they can opt out. But let’s be honest, it’s hard to turn down free digital money!

Why XRP? It’s All About the Buzz

The ripple effect (pun totally intended) of MorningStar’s XRP dividends has seemingly been a boon for SBI’s cryptocurrency exchange, SBI VC Trade. Kitao noted a surge in applications, proving that bitcoin isn’t the only cryptocurrency that can get people excited. It’s like throwing a party with all the best snacks, and folks just can’t resist showing up!

Strengthening Ties with Ripple

SBI Holdings and Ripple have been creating quite the duo since their partnership in 2016, notably through the joint venture SBI Ripple Asia. This collaboration has focused on promoting the use of XRP in the Asian markets. And if that wasn’t enough, Kitao snagged a seat at Ripple Labs as an executive, where he aims to unleash the power of blockchain and digital assets across Japan and Asia. Financial services may never be the same again!