SBI Holdings Unveils Japan's First Security Token Bond with XRP Rewards
SBI Holdings, Japan's largest financial conglomerate, has launched its first blockchain-based bond for retail investors. The ¥10 billion ($64.5 million) security token offering is called SBI START Bonds and combines fixed-income returns with XRP token rewards.
The three-year instruments are fully managed on-chain using BOOSTRY's 'ibet for Fin' enterprise blockchain platform. Secondary trading will begin March 25 on Osaka Digital Exchange's proprietary START system, with the final coupon rate set between 1.85% and 2.45% annually by March 10.
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.
SBI's history with Ripple and XRP is significant, as the company has partnered with Ripple since 2016. SBI co-founded SBI Ripple Asia and CEO Yoshitaka Kitao has stated that SBI owns approximately 9% of Ripple Labs.