SBI VC Trade is tipping 1,055 Yen Worth of XRP to any individual or corporate entity who opens accounts on the platform between June 1, 2020 to September 30, 2020.
The tipping worth 50 XRP is to serve as a campaign to bring Japanese into cryptocurrency investing and the opportunity is only available to those who open an account within the said period, a press statement by SBI Holdings has shown.
Only persons within the age range of 20 to 80 will have the opportunity of receiving the reward, and they shall receive the funds by the middle of the month that follows the account opening date.
The platform says only a single account from one person is eligible for the opportunity, and it may take close to 10 days for every new account to receive the said fund.
New account holders are to note that SBI VC Trade does not welcome spoofing and any form of illegal dealings on the platform and anyone caught in this act, will be exempted from the benefit.
During the account opening period, SBI VC Trades says it reserves the right to refuse to open any account upon examination and reserves the privilege to terminate the campaign any moment without notifying anyone due to the company’s rules and regulations.
SBI VC Trade is a subsidiary of SBI Holdings, headed by CEO Yoshitaka Kitao, a conglomerate working on increasing the adoption of RippleNet and XRP through its large affiliates, subsidiary and partners across Asia and beyond.
SBI Holdings launched SBI VC Trade to increase the adoption of XRP in Japan, and since the launch, the exchange has been engaging in tipping users with XRPs.
The same is seen in companies owned by SBI Holdings where shareholders have the advantage of receiving dividends in XRP and are tipped the digital token from time to time.
The SBI’s overseen MoneyTap is also gaining ground as over 30 banks already invested and queued to use the platform for easy fund transfer. Beyond that, ATMs across Japan are to be integrated with the blockchain platform.
Importantly, SBI Remit, a subsidiary of SBI Holdings, is a financial platform making use of Ripple’s Distributed Ledger Technology for servicing remittance between Japan and Vietnam.