This Ex-Ripple Board Member Offers XRP As Shareholder Benefit

XRP News: Yoshitaka Kitao, the founder and CEO of Japanese financial services company SBI Group who was until 2021 a board member at Ripple, is offering shareholders with an incentive option of receiving in XRP. The CEO had long been a supporter of XRP and advocated for its potential to become the global standard. In the context of the SEC’s case against Ripple, the company continues to expand its scope of use cases. However, Ripple’s larger goal of becoming an intermediary between all CBDC backed central banks would depend on the outcome of the SEC case.

Also Read: India Bullish On Crypto Regulation With Latest Economic Survey?

XRP As Shareholder Benefit

In the latest notice around SBI Holdings’ shareholder benefits, the company included an option to receive XRP tokens. All eligible shareholders listed or recorded in the shareholder registry as of March 31, 2023 with certain conditions can avail the option. The company’s notice to shareholders on January 31, 2023 read,

“You can select and apply for either a coupon code ticket that allows you to receive cryptocurrency XRP in the account of our subsidiary SBI VC Trade Co., Ltd.”

Also Read: Top 5 Altcoins For Crypto Gamers To Look Out This Week

This is not the first time the Japanese company is involved in cryptocurrency usage. In partnership with Ripple Labs, the company launched an international remittance service using crypto assets. SBI had also been making use of RippleNet, an international money transfer solution from Ripple.

Meanwhile, the future of XRP is completely relied on the SEC case judgement, which is expected to be pronounced later this year. Although it is widely believed in the crypto community that chances are Ripple will win the case, the regulatory side of the argument will only be clear after the case is closed. As of writing, XRP price stands at $0.402367, up 0.35% in the last 24 hours, according to CoinGape price tracker.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.