Morningstar Japan K.K., SBI Holdings’ subsidiary has launched a provisional shareholder benefits program with XRP [Ripple]. Notably, SBI Holding is a renowned Japanese financial services giant and XRP [Ripple] is the world’s 3rd largest cryptocurrency by market capitalization.
It is to be noted that the shareholders who hold hundred or more shares of Morningstar Japan K.K, will get thirty XRP [Ripple] coins, as per the announcement made by SBI Holdings on Wednesday. This dividend is regardless of the shares held by them. At the time of reporting, XRP coin is changing hands at $0.255. It is down by 0.40 percent in the last hour. It is having a market cap of $10.9 Billion and a volume of $819 Million.
Interestingly, the qualified shareholders will have to open a free account with cryptocurrency and digital asset exchange SBI VC Trade. Subsequent to that, Morningstar Japan K.K will relocate XRP [Ripple] coins from its account to the accounts of the shareholders, according to the announcement.
Ripple [XRP], Japan, Virtual Currency, And MoneyTap
Furthermore, the cut-off date for submitting an application for the benefits program is until March 31, 2020. The company mentioned that it will email shareholders additional particulars about the program in mid-November.
What’s more, SBI Holdings has a joint venture with Ripple. Notably, Ripple is the chief single owner of the XRP virtual asset. The name of the aforementioned venture is SBI Ripple Asia. The aforesaid venture was formed last year and it also operates a payments app known as MoneyTap. Notably, the MoneyTap app provides bank-to-bank money transfers in “real time” and makes use of Ripple’s xCurrent solution. Nonetheless, it does not use XRP coin similar to Ripple’s xRapid solution.