The previous week or so has been hectic for XRP with its short win against SEC and its value fluctuating constantly. Right now, the crypto is hanging around 0.136 dollars, and there are not many ways to help the crypto recover from it.
Many expect the currency to face an upward trend once it reaches the 1.100 dollar support. A major attempt to facilitate the same took place recently when SBI Holdings (Japan) announced its open support to Ripple in the nation.
SBI Group Offering Ripple as Reward Bonus for its STO
The support came out in the form of a bonus payment to the customers. The reward is XRP, and it will be provided to users who participate in SBI Holdings’ latest STO (security token offering). The news was shared by Yoshitaka Kitao (SBI Group’s Chief) on Twitter. It marks the first time when an STO is being integrated for general investors with perks such as Ripple.
SBI Holdings aims to conduct a Security Token Offering of its virtual bonds on April 20, 2021. The tokens are to be released on Ibet an esteemed blockchain platform. The amount of Ripple on offer will match the number of virtual securities sold to the individual investors.
Here are the details of the STO by SBI Group:
- Period = One year
- Redemption Rate = 100% of the nominal price
- Issue Amount = 100,000,000 Yen
- Nominal Price = 100,000 yen unit
- Recruitment Time = Apr 20, 2021 to Apr 26, 2021
- Issue Date = Apr 27, 2021
- Interest Rate = 0.35% and 0.278% after tac
- Interest Payment Date = October 27, 2021 and April 27, 2022
- Perks = 10XRP per par value
Ripple’s Market Extension
Ripple Tech is also stated to be integrated with 41 banks, 1,020 public companies, and 7,000 organizations in May 2021. This can be seen as another step to enhance Ripple’s current market status.
Will these Strong Fundamentals and Use Cases Affect XRP’s Price?
Since Ripple has been facing a challenging time, but the crypto does not appear to be faltering. Its attempts to maintain market integrity in the form of partnerships and ties like with SBI Group will certainly help its current situation. The more use cases Ripple presents in the market, the better chances it will possess of staying relevant. Taking into account the support XRP is garnering in the SEC case, the crypto’s value might rise in the future as per recent xrp price prediction.
SBI Group Japan’s recent announcement of offering XRP as a reward bonus is just what the crypto needs at the moment. With the market filled with adverse situations, it’s moves like this that will help XRP maintain its status.