Leading Japan financial firm, SBI, introduces innovative XRP trading initiatives and cashback campaigns to promote XRP to the Japanese community.
SBI, a renowned financial giant in Japan, is taking an innovative approach to XRP trading, leaving the crypto community in awe. The influential pro-XRP figure, Crypto Eri, took to Twitter to reveal the intriguing developments initiated by SBI.
SBI is getting very creative with XRP. Lottery for #XRP Spot & Leverage Exchange Trading AND –>a CROSS PROMOTION of #XRP on FX Trading site! ?CRYPTO (#XRP) CFD trading, a type of derivatives trading XRP/JPY & XRP/USD. Contract For Difference Trading with 1M Yen Cashback.… pic.twitter.com/LrxqFrAyPM
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) July 18, 2023
According to Crypto Eri, SBI is leaving no stone unturned regarding XRP. SBI’s latest move involves initiatives to boost XRP’s prominence in the Japanese crypto sphere under what it calls the “Midsummer XRP Festival,” a co-sponsored campaign by SBI VC Trade and SBI FX Trade.
Spot Transaction Campaign
The Spot Transaction Campaign caters to individual customers, tempting them with the chance to win XRP gifts. To qualify, customers must engage in XRP spot trading at SBI VC Trade sales offices during the campaign period, from July 14 to August 1, 2023.
Participants will receive XRP equal to 0.5% of their total contract price, capped at 1 million yen. By the end of August 2023, the eligible XRP will be credited to the lucky winners’ SBI VC Trade accounts.
Leverage Trading Campaign
SBI’s second move involves a Leverage Trading Campaign, where individual customers can stand a chance to win 100 XRP each.
A lottery will determine 50 lucky recipients, and to be eligible, participants must conduct leveraged trading of XRP on SBI VC Trade between July 14 and August 1, 2023.
As with the spot transaction campaign, the winners will have the eligible XRP added to their SBI VC Trade accounts by the end of August 2023.
XRP on FX Trading Site
Crypto Eri further noted SBI’s decision to engage in a cross-promotion of XRP on its FX trading site. Mainly, SBI introduces crypto CFD trading, a form of derivatives trading featuring XRP trading pairs such as XRP/JPY and XRP/USD.
According to the official website, SBI announced a cashback campaign for XRP/JPY and XRP/USD transactions, offering participants the chance to receive gifts up to 1 million yen.
The campaign also runs from July 14 to August 1, 2023. Notably, SBI customers must engage in XRP transactions equivalent to one million yen or more to be eligible for the cashback.
Ultimately, SBI is sparing no effort to bring XRP into the spotlight of Japanese crypto enthusiasts. The firm is bringing up these initiatives after Ripple secured victory against the US regulator.
As The Crypto Basic reported in June, SBI CEO Yoshitaka Kitao argued that XRP investors could expect tremendous gains after Ripple defeats the Securities and Exchange Commission (SEC).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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