SBI Holdings Subsidiary Morningstar to Pay Shareholder Dividend in XRP

Asia Blockchain Review
September 7, 2019
SBI Holdings Subsidiary Morningstar to Pay Shareholder Dividend in XRP

Japanese financial services giant SBI Holdings’ subsidiary, Morningstar Japan, has offered an interim shareholder benefits program in Ripple (XRP), the world’s third-ranked cryptocurrency by market capitalization.

Shareholders with 100 shares or over of Morningstar Japan will receive 30 XRP tokens, no matter how many shares they hold, according to an announcement from SBI Holdings. One XRP token is valued at $0.25 at press time.

Incentives for Shareholders to Open an Exchange Account

According to a report by CoinDesk, eligible shareholders will have to open a free account with the company’s cryptocurrency exchange VC Trade. Morningstar Japan will then transfer XRP from its account to the accounts of shareholders.

Virtual currency is already used globally in various situations such as settlement, remittance, and operation, and in particular, the practicality of virtual currency XRP, which is used for efficient global remittance, will further increase in the future. As a result, we believe it will be one of the important asset classes in asset management,” Morningstar said.

The deadline for applying for the benefits program, dubbed “shareholder special offer”, is March 31, 2020. The company said it will provide shareholders with in-depth details about the program in November.

SBI Holdings in Collaboration with Ripple for Payments Solution 

SBI Holdings also has a joint venture with Ripple, the largest single owner of the XRP cryptocurrency. The venture “SBI Ripple Asia” was established last year to operate a blockchain-based payments app MoneyTap. Powered by Ripple’s proprietary solution xCurrent, MoneyTap enables real-time settlements for domestic payments in Japan.. 

In July, online retail giant Overstock also announced its program to pay stockholders dividends in its affiliate company’s digital security.


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