SBI Holdings to Launch On-Chain Bonds with XRP Rewards for Investors
- SBI Holdings plans to issue Series ST Bonds worth $64.52 million, exclusively for retail investors.
- The bonds will be issued, administered, and settled entirely on the blockchain, using the “ibet for Fin” platform developed by BOOSTRY.
- Bondholders will receive XRP tokens equivalent to their subscription amount shortly after payment confirmation.
- Secondary market trading of these bonds is set to begin on March 25, with additional XRP rewards for bondholders in March of the following three years.
- XRP is currently trading between $1.4 and $1.45, reflecting a weekly increase of only 0.81%.
This new offering from SBI Holdings comes after clarifying that it holds stakes in Ripple Labs rather than directly holding XRP tokens. The initiative aims to boost investment options tied to the altcoin.
The launch of these bonds could enhance liquidity and interest in XRP as it continues trading within a narrow price range, highlighting its ongoing relevance in the market.
