News

This Ex-Ripple Board Member Offers XRP As Shareholder Benefit

Ripple Board and SBI Group CEO Member Yoshitaka Kitao is still bullish on XRP potential as he gives away the tokens as shareholders benefit.
Published by
This Ex-Ripple Board Member Offers XRP As Shareholder Benefit

XRP News: Yoshitaka Kitao, the founder and CEO of Japanese financial services company SBI Group who was until 2021 a board member at Ripple, is offering shareholders with an incentive option of receiving in XRP. The CEO had long been a supporter of XRP and advocated for its potential to become the global standard. In the context of the SEC’s case against Ripple, the company continues to expand its scope of use cases. However, Ripple’s larger goal of becoming an intermediary between all CBDC backed central banks would depend on the outcome of the SEC case.

Also Read: India Bullish On Crypto Regulation With Latest Economic Survey?

Advertisement

XRP As Shareholder Benefit

In the latest notice around SBI Holdings’ shareholder benefits, the company included an option to receive XRP tokens. All eligible shareholders listed or recorded in the shareholder registry as of March 31, 2023 with certain conditions can avail the option. The company’s notice to shareholders on January 31, 2023 read,

“You can select and apply for either a coupon code ticket that allows you to receive cryptocurrency XRP in the account of our subsidiary SBI VC Trade Co., Ltd.”

Also Read: Top 5 Altcoins For Crypto Gamers To Look Out This Week

This is not the first time the Japanese company is involved in cryptocurrency usage. In partnership with Ripple Labs, the company launched an international remittance service using crypto assets. SBI had also been making use of RippleNet, an international money transfer solution from Ripple.

Meanwhile, the future of XRP is completely relied on the SEC case judgement, which is expected to be pronounced later this year. Although it is widely believed in the crypto community that chances are Ripple will win the case, the regulatory side of the argument will only be clear after the case is closed. As of writing, XRP price stands at $0.402367, up 0.35% in the last 24 hours, according to CoinGape price tracker.

Advertisement
Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Metaplanet Stock Surges 10% on Share Repurchase, Capital Allocation Policy

Fourth-largest Bitcoin treasury Metaplanet on Tuesday announced plans to establish a new capital allocation policy,…

October 28, 2025
  • interviews

AI Meets Smart Routing: Screx Sets a new efficiency Benchmark in DeFi

The current ecosystem in which all the core DeFi tasks have been so fragmented and…

October 28, 2025
  • News

Solana, Litecoin, HBAR ETFs by Bitwise, Canary, and Grayscale to Start Trading This Week

Exchanges have filed listing notices for Bitwise Solana Staking ETF (BSOL), Canary Litecoin ETF (LTCC),…

October 28, 2025
  • News

Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”

Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…

October 28, 2025
  • News

Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain

In a fresh development, a newly registered claim domain has led to speculations that the…

October 27, 2025
  • News

$2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments

Citigroup, a top U.S. bank with $2.5 trillion asset under management has partnered with Coinbase.…

October 27, 2025