While it appears that the case between Ripple and the United States Securities and Exchange Commission (SEC) is not heading towards a settlement yet. Yesterday, the SEC asked for the financial information of two Ripple Executives. However, amid this crisis, the Japanese Behemoth, SBI Group announced on Thursday that they would pay dividends to their shareholders in XRP.
Japan’s Giant “SBI Group” to pay Cryptocurrency as Benefit
It is clear that this move from Japan’s largest financial firm is not just a show of appreciation to its investors like it said but also that of support for XRP. Last year, when Ripples was first sued by the SEC, SBI Group made its stance known as an early supporter.
However, on March 12, the Japanese firm announced to pay out their annual benefit to shareholders in cryptocurrency. The firm revealed that investors who own at least 100 shares of SBI group will be rewarded $23 worth of XRP – equivalent to 2500 yen.
The exact amount of the token to be received by investors will depend on the price of the token on June 30. The company also announced that the offer to apply for these benefit will end on May 31.
SBI Group Remains Loyal to Ripple
The firm remains one of the most loyal supporters of Ripple. About a month ago, SBI Group announced that it will allow its customers to lend their XRP token to earn interests.
Even with the current turmoil of Ripple, the token continues to show positive signs. The token plunged last year when the lawsuit was filed by the SEC and had stayed very volatile. Yet, XRP’s market cap has grown by almost double since the year began.
According to Coinmarketcap, XRP is up by 0.54% in the last 24 hr. and is now trading around $0.4515. The market cap has also increased by 0.97% in the last 24 hours. Regardless of the lawsuit, XRP is still holding on strong with a market dominance of 1.2%.