SBI Holdings subsidiary, Morningstar Japan announced on Aug 29th that it will pay dividends to its shareholders in XRP tokens. Morningstar Japan is a subsidiary of Japan’s giant financial service, SBI Holdings.
According to the company statement, if its shareholders hold a minimum share of 100 by September 30th the company will offer 30 XRP. It doesn’t matter how many shares they hold.
XRP is the third-largest cryptocurrency in the world by its market capitalization.
The announcement was made in an effort to increase the dividend of shareholder interim. One XRP Coin was trading at $0.25 at press time.
“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.
Ripple and SBI made a partnership last year on a payment application app based on blockchain called MoneyTap with the venture “SBI Ripple Asia”.
Shareholders need to have an account in cryptocurrency exchange SBI VC Trade. Deadline for the “shareholder special offer” is set on 31st March 2020.