SBI Group sub-division, Morningstar, Continues XRP Incentive

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A division of SBI holdings, Morningstar, introduced a Ripple XRP shareholder benefit in 2019. Morningstar, a financial information system affiliate of the major Japanese firm SBI Group, have stated their intention to continue with their XRP shareholder initiative.

The declaration was made via an official announcement on Friday, Morningstar confirmed the annual shareholder benefit in XRP.

The recently introduced dividend distribution opportunity is held in such regard that it is integral to the company’s end-of-year reward scheme, incentivising shareholders continued support as well as interim shareholder benefits. As part of the scheme, Morningstar will incentivise the accumulation of shares granting an XRP reward of ¥2,500 ($23) for every 100 shares held by shareholders on the 31st of March, 2021.

The exact amount of XRP granted to shareholders will be that of a market buy pair Yen to XRP price to take place on the 30th of June 2021, SBI declared. Morningstar’s initiative seeks to entice shareholders to open their own cryptoasset accounts via the SBI Group’s crypto sub-division SBI VC Trade.

Morningstar, as mentioned, have been offering incentives of XRP since 2019, at this period offering 30 XRP for every 100 shares held. Operating from their headquarters based in the business district of Tokyo, the company provides an emphasis on providing financial reports and in-depth analysis of investment services. At present, the Morningstar shares are traded at ¥446 ($4.05) with an estimated total market value of ¥39,994 billion ($363,269 million).

Morningstar’s incentive seems to have caught the attention of parent company SBI Group, with them considering the possibility of offering dividend rewards in XRP, pondering the implementation of such an incentive as early as 2020. The parent-company has been vigorously pursuing development in XRP based goods in their structure, further to this point even allowing XRP to borrow on their SBI VC crypto trading platform last February.

SBI has even stood steadfast in defence of Ripple, all the while offering their support to the company despite the looming court case in the United States. Yoshitaka Kitao, CEO of SBI, has stated his belief that Japan would be the most likely nation to fully convert to XRP if they were ever to abandon the US standard.

Make sure you purchase your XRP from a trust source such as BC Bitcoin based in the UK.