Japanese corporation, SBI Holdings is set to draw dividends to shareholders in XRP tokens through the VCTrade exchange.
According to the company’s press release, shareholders who hold over 100 stocks will get 30 XRP tokens on the VCTrade account. Furthermore, the type of stock is not important.
Shareholders are entitled to dividends until March 31, 2020. The company will reveal more details in mid-November.
Cooperation Between Ripple And SBI
Recall, that SBI Holdings president and CEO Yoshitaka Kitao was invited to join Ripple previously. This made it possible for Ripple and SBI to become even closer. Accordingly, in the near future, we can expect other important campaigns and projects due to such a union between Ripple and SBI.
In 2018 SBI Holdings announced the launch of the MoneyTap payment app based on Ripple technology. However, one of the partner banks subsequently discarded from the project, the prospect of which is currently unknown.
Meanwhile, critics of Ripple perked up significantly. In mid-August, a group of investors filed a class-action lawsuit against the California fintech firm, accusing it of violating US securities laws. Note, that the plaintiffs refer to the leadership of the US Securities and Exchange Commission (SEC), which establishes the rules for determining securities.
Recently, a petition appeared on Change.org urging the US-based technology company to stop dumping XRP tokens. Later, its author called for a hardfork of the network if Ripple does not fulfill the demands.
At the same time, the eighth largest US bank PNC has become a new member of RippleNet. The industry giant completed the xCurrent product pilot last September.