SBI Holdings Launches Blockchain Bonds with XRP Rewards: $64.5M Tokenized in Japan
📋 En bref (TL;DR)
- Tokenized bond: SBI Holdings issues 10 billion yen (~$64.5M) in blockchain bonds
- XRP rewards: Investors receive XRP tokens at issuance and with each interest payment
- Attractive yield: Annual rate of 1.85% to 2.45% over 3 years, paid semi-annually
- Ripple partnership: SBI owns ~9% of Ripple Labs and has supported XRP since 2016
- Financial innovation: First mainstream blockchain bond combining fixed income and crypto
Japanese financial giant SBI Holdings is launching a world first: tokenized blockchain bonds with XRP rewards. This 10 billion yen (approximately $64.5 million) issuance illustrates the growing convergence between traditional finance and digital assets.
Named « SBI START Bonds, » these bonds target Japanese retail investors and combine a classic fixed yield with cryptocurrency bonuses. An innovation that could serve as a model for other financial institutions.
SBI START Bonds Offer Structure
The SBI START Bonds are entirely managed on the « ibet for Fin » blockchain platform developed by BOOSTRY, which specializes in issuing security tokens (tokenized financial securities).
Key Features
- Amount: 10 billion yen (~$64.5 million)
- Duration: 3 years
- Interest rate: 1.85% to 2.45% annually (indicative range)
- Interest payments: Semi-annual
- Secondary market: Trading expected from March 25, 2026 on the Osaka Digital Exchange
The proposed interest rate is competitive compared to Japanese government bonds, which currently offer yields close to zero or even negative on some maturities.
XRP Rewards for Investors
The most innovative aspect of this offering lies in the XRP rewards. Eligible investors receive XRP tokens in addition to regular interest payments.
Eligibility Requirements
- Minimum investment: 100,000 yen (~$650)
- Hold an account on SBI VC Trade (SBI’s crypto platform)
- Be a Japanese resident (individual or corporate)
Reward Amount
The program provides 200 yen in XRP for every 100,000 yen invested. These bonuses are distributed:
- At bond issuance
- At each interest payment date (March 2027, 2028, and 2029)
This incentive system aims to familiarize traditional investors with cryptocurrencies while offering them a secure investment product.
SBI and Ripple: A Long-Standing Partnership
This initiative is part of a nearly 10-year relationship between SBI Holdings and Ripple. The partnership began in 2016 with the creation of SBI Ripple Asia, a subsidiary dedicated to cross-border payment solutions.
Yoshitaka Kitao, President and CEO of SBI Holdings, revealed that the group holds approximately 9% of Ripple Labs. This significant stake demonstrates the Japanese conglomerate’s confidence in the XRP ecosystem.
History of SBI’s XRP Initiatives
- 2016: Creation of SBI Ripple Asia for cross-border payments
- 2019: Distribution of XRP as dividends to shareholders
- 2025: Partnership with Circle to launch USDC in Japan
- 2026: MoU with Ripple to distribute the RLUSD stablecoin
Bond Tokenization: A Global Trend
SBI’s initiative is part of a broader trend of tokenizing traditional financial assets. The advantages are numerous:
- Efficiency: Instant settlement vs T+2 for traditional bonds
- Accessibility: Reduced minimum investment amounts
- Transparency: Complete transaction traceability on blockchain
- Liquidity: 24/7 trading possible on digital platforms
Other major financial institutions, such as BNP Paribas in Europe, are also exploring asset tokenization on blockchain. The global security token market could reach several trillion dollars by 2030, according to some estimates.
Impact on XRP Price
Despite this positive news, XRP’s price remains under pressure, trading below $1.50. However, analysts note a series of 3 consecutive weeks of inflows into XRP ETFs, signaling persistent institutional interest.
The gradual adoption of XRP by leading financial institutions like SBI could help establish structural demand for the token, beyond speculation.
Implications for International Investors
While this offering is reserved for Japanese residents, it illustrates a trend that could soon reach Europe and beyond:
- The combination of traditional and crypto assets in a single product
- The use of blockchain for issuing financial securities
- Cryptocurrency incentives to attract new investors
With the MiCA regulation now in effect in the European Union, conditions are ripe for similar products to emerge on the Old Continent.
📚 Glossary
- XRP: The native cryptocurrency of the Ripple network, designed for fast and low-cost cross-border payments.
- Tokenization: The process of representing a real asset (stock, bond, real estate) as a token on a blockchain.
- Ripple: An American company specializing in cross-border payment solutions using blockchain technology.
- Security Token: A token representing a financial security (stock, bond) and subject to securities regulation.
- Stablecoin: A cryptocurrency whose value is pegged to a stable asset, such as the U.S. dollar.
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