SBI Launches Japan's First Security Token Bond With XRP Rewards

SBI Holdings has made history in Japan by launching the country's first security token bond that comes with built-in XRP rewards. The ¥10 billion ($64.5 million) offering, dubbed SBI START Bonds, is a three-year instrument that pairs fixed-income returns with XRP token incentives.

The bonds are fully managed on-chain using BOOSTRY's 'ibet for Fin' enterprise blockchain platform and will be listed on Osaka Digital Exchange's proprietary START system starting March 25. The final coupon rate, expected to fall between 1.85% and 2.45% annually, will be set on March 10.

The reward mechanism is designed to encourage investor engagement with SBI VC Trade, with a ¥200 in XRP distributed per ¥100,000 invested at issuance and again on each semi-annual interest date through maturity in March 2029. This effectively delivers three additional cryptocurrency distributions over the bond's life.

SBI's history with Ripple and XRP is well-documented, with the company having partnered with Ripple since 2016 and co-founded SBI Ripple Asia. The offering tests whether conservative retail investors in Japan will accept tokenized fixed-income instruments that bundle crypto incentives alongside traditional yield.