In another XRP news, Ripple’s Asia partner SBI Holdings shared that it would be launching an offering that pays investors in its on-chain bonds with the Ripple coin. This comes as the firm looks to expand products tied to the altcoin.
SBI Holdings to Offer XRP Rewards to On-Chain Bonds Investors
In a recent release, the Ripple partner announced plans to issue its first Series ST Bonds worth $64.52 million. The company developed the bonds exclusively for retail investors. It will issue, administer, and settle the bonds entirely on the blockchain network instead of using the conventional securities settlement systems in Japan.
The new offering came just after the SBI cleared rumours of holding XRP directly. The firm said at the time that its stakes are held in Ripple Labs, not tokens. However, they have now come out to say they would be paying investors in XRP, which means they have a stash of coins somewhere.
For this new offering, SBI stated that instead of using traditional methods of registration, it would use digital registration and tokenization of the bonds on the “ibet for Fin” platform developed by BOOSTRY.
On the other hand, the trading of the bonds will be conducted on the START proprietary trading system operated by Osaka Digital Exchange, with secondary market trading set to begin on March 25, 2026.
The bondholders will receive XRP tokens worth their subscription amount shortly after the payment confirmation. However, the eligible investors must have an account with SBI VC Trade and follow the necessary procedures by May 11.
Moreover, SBI will provide additional Ripple coin benefits to the bondholders on each interest payment date in March 2027, March 2028, and March 2029.
How Did the Ripple Coin Perform this Week?
As of press time, the altcoin is still trading within the price range of $1.4 and $1.45. Over the past week, the Ripple token has only seen a 0.81% increase in value according to CoinMarketCap data.
Source: CoinMarketCapThere were factors that seemed to have helped maintain the XRP price. For instance, Ripple’s CEO Brad Garlinghouse publicly estimated a 90% chance that lawmakers will pass the CLARITY Act by April. Garlinghouse made this statement after the third session of the White House on stablecoin yields. He believes this will give a huge boost to the crypto market once passed.
Another report that was released during the week also boosted sentiment for the coin. The analysis highlighted the level of institutional activity being recorded on the XRL. It was shared that 63% of tokenized U.S. treasuries is now being issued on the ledger.
Source: https://coingape.com/xrp-news-ripple-partner-sbi-reveals-on-chain-bonds-that-pay-investors-in-xrp/
