Ripple: SBI Group to offer XRP as rewards for investors in upcoming STO

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Ripple (XRP) price continues to consolidate after Court Hearing on April 30

Tokyo-based SBI Financial Giant plans to conduct STO (Security Token Offering) on its digital corporate bonds on April 20. The company will offer XRP rewards to investors.

SBI Group to Give Out XRP in the Corresponding Number of STO Bought

SBI Group President Yoshitaka Kitao shared a link to the company’s XRP-related press release on SBI’s new line of products in a recent tweet.

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The number of XRPs given away will correspond to the number of digital securities bought by each investor.

The security token of this product will be launched on the Ibet blockchain platform. Earlier this year, it was reported that the SBI group offered XRP as the end of the year bonus to its shareholders.

Those who own at least 100 SBI shares are eligible for XRP worth 2500 yen (equivalent to $23). The exact number of XRP tokens specified will be determined based on the XRP price on June 30th.

Wall Street Journal criticizes the SEC Lawsuit Against Ripple

In a column published April 18, the editor of the Wall Street Journal criticized the SEC’s preliminary approach to regulating the cryptocurrency market.

The board alleged that the agency’s latest lawsuit against unreliable ledger technology provider Ripple harmed investors:

“U.S. participants in the $2 trillion cryptocurrency market are seeking clarity that the agency has declined to provide, preferring to announce its positions through individual enforcement actions.”

Ripple put its hopes on the list of Gary Gensler, the new chairman of the US Securities and Exchange Commission, who has knowledge of cryptocurrency. The board claimed that their testimony reflected the agency’s current position.

Earlier this month, Forbes also took part in Ripple’s media battle, accusing the SEC of having no evidence of a possible conflict of interest.