SBI Holdings, a financial service company based in Japan, announced that it is contemplating payments in XRP tokens for shareholders. This is after it’s subsidiary financial company, MorningStar, began using XRP.
MorningStar started offering dividends in XRP to shareholders earlier in 2019 and, after that, the Chief Executive Officer of SBI Holdings, Yoshitaka Kitao, announced that perhaps the business is considering to follow in their subsidiary’s footsteps. This was reported by Cointelegraoh Japan on the 5th of December. The program will be launched in March 2020 and the program will be opt-in.
MorningStar, the financial research firm, disclosed its intention to use XRP tokens for dividends in August of this year. During the announcement, MorningStar stated that it will offer 30 crypto tokens to shareholders if by the end of next month they owned at least 100 shares.
After the company launched XRP token dividends, there was a significant rise of the use of the cryptocurrency exchange by SBI, the SBI VIC Trade.
SBI Holdings has worked with Ripple, the company that issues XRP, before. The two firms have a joint venture SBI Ripple Asia that was launched in order to encourage usage of the XRP token in Asia three years ago.
When SBI released its new financial report in October 2019, they made an emphasis on the great importance of the Ripple technology and its influence on SBI. This April, Yoshitaka Kitao also became the executive of Ripple Labs and Kitao stated that he is planning to keep encouraging usage of blockchain technology and the application of crypto coins in the financial service industry in Asia, especially in Japan. He also added that his main goal is creating a service that provides people high benefits.
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