Japan's First Security Token Bond Pairs Fixed-Income Returns with XRP Rewards

SBI Holdings, one of Japan's largest financial conglomerates, has launched its first blockchain-based bond for retail investors. The ¥10 billion ($64.5 million) security token offering pairs fixed-income returns with XRP token rewards. The three-year instruments, dubbed SBI START Bonds, are fully managed on-chain using BOOSTRY's 'ibet for Fin' enterprise blockchain platform.

The secondary trading is scheduled to begin March 25 on Osaka Digital Exchange's proprietary START system. The final coupon rate, expected between 1.85% and 2.45% annually, will be set on March 10. Domestic retail investors and corporations purchasing at least ¥100,000 ($650) worth of bonds and holding an account with SBI VC Trade qualify for XRP rewards.

The initial distribution equals approximately ¥200 in XRP per ¥100,000 invested, paid at issuance and again on each semi-annual interest date through maturity in March 2029. This reward structure effectively delivers three additional cryptocurrency distributions over the bond's life, tying the investor's engagement with SBI VC Trade directly to the product's lifecycle.