SBI issues ¥10B on-chain bond with XRP rewards for retail investors
SBI Holdings is launching a ¥10 billion (≈$64.5M) blockchain-based retail bond called SBI START Bonds. The three-year securities, issued on BOOSTRY’s “ibet for Fin” enterprise blockchain, offer an indicative annual interest rate of 1.85%–2.45%, paid semiannually, and settle on-chain. Eligible retail investors and companies that buy at least ¥100,000 and hold accounts on SBI VC Trade receive XRP token rewards — described as ¥200 in XRP per ¥100,000 invested — paid at issuance and on each interest payment date through 2029. Secondary trading is expected to start March 25 on the Osaka Digital Exchange START trading system. SBI has long partnered with Ripple, owns roughly 9% of Ripple Labs according to CEO Yoshitaka Kitao, and has previously distributed XRP to shareholders and pursued stablecoin initiatives including USDC and RLUSD in Japan. Key keywords: SBI on-chain bond, XRP rewards, BOOSTRY ibet for Fin, Osaka Digital Exchange, retail bond issuance.
Bullish
The news is mildly bullish for XRP and the Japanese crypto market. SBI’s ¥10B on-chain retail bond directly links a major financial group with token rewards in XRP, creating incremental retail demand and increased on-chain utility for XRP through a regulated financial product. The distribution of XRP at issuance and on interest dates (¥200 in XRP per ¥100,000 invested) represents a predictable, programmatic buy-side flow or at least distribution that encourages holding and trading on SBI’s ecosystem. SBI’s long-standing strategic ties to Ripple and its ~9% stake in Ripple Labs add credibility and potential operational coordination. Short-term impact: likely modest price uptick and increased retail buying interest in XRP and trading volume on SBI platforms when the issuance and secondary listing occur (around March 25). Market reaction may be amplified if retail uptake is strong or if secondary trading shows heavy flows. Long-term impact: supports broader institutionalization of tokenized securities in Japan, could increase XRP utility and on-chain settlement volumes, and may encourage other issuers to offer token incentives — gradually bullish for demand and market depth. Risks/neutralizing factors: the bond’s modest interest rate and relatively small token reward size limit large capital inflows; macro conditions, regulatory shifts, or weak retail uptake could mute the effect. Compared to past events — corporate airdrops or token rewards tied to traditional financial products have produced short-term positive price moves (e.g., exchange token reward programs), but sustained gains depend on continued demand and broader adoption.