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Home Crypto News Market Financial Giant SBI Issues Japan’s First Digital Corporate Bonds With XRP Benefits

Financial Giant SBI Issues Japan’s First Digital Corporate Bonds With XRP Benefits

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Financial giant SBI, Ripple’s largest partner in Japan, is offering its customers bonus payments in XRP if they participate in the firm’s tokenized corporate bonds offering, Japan’s first security token offering for general investors (STO).


According to the Twitter account of SBI Group CEO Yoshitaka Kitao:

 

Tweet Translation:

“Notice of Implementation of Security Token Offering (STO) for General Investors for the First Time in Japan-SBI SECURITIES Issued with XRP Benefits Investing in Digital Corporate Bonds.”

According to the SBI press release, the financial giant will soon offer XRP payments to customers who participate in the Bank new offer.

SBI Group, headquartered in Tokyo, intends to issue its tokenized corporate bonds on April 20. The company will provide a bonus in XRP to all investors who participated in the offer.  The number of XRP distributed will be equal to the number of digital securities purchased by each investor. The tokenized bonds will be issued on the Ibet platform.

Back in late 2019, Kitao said that the XRP dividend payment program will be launched before the end of the fiscal year, which ended on March 2020.

Last month, a division of the Japanese financial conglomerate SBI Crypto announced the opening of access to the services of the mining pool, which has been mining crypto assets since 2017, to all customers.

SBI is also in talks with foreign financial firms to create a joint venture focused on cryptocurrencies.

 

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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