SBI Launches ¥10B On-Chain Bonds Reportedly Rewarding Investors with XRP

Japan-based financial group SBI Holdings announced an on-chain bond offering that several crypto outlets say will reward investors with XRP. CoinGape reported the firm would launch bonds that pay investors in the Ripple token as part of an expanded product lineup ^[1], while The Crypto Basic described the issuance as the first-ever on-chain security token (ST) bond that grants holders an equivalent amount of XRP ^[2].

Coverage places the program at roughly ¥10 billion (about $64.5 million) and notes the bonds are being issued under Japan's STO rules and listed on START, drawing attention to XRP in the offering ^[3]. At the same time, DefiLiban cautioned that the presence of an XRP coupon remains unconfirmed and that some headlines may conflate promotional rewards with contractual bond cash flows, while verifying SBI’s intent to issue about ¥10 billion in blockchain security token bonds ^[4].

SBI and Japanese authorities have not published further public details on the mechanics of any XRP distributions or the bonds' coupon structure, leaving specifics to be clarified by the issuer and regulators ^[4].

Multiple outlets report SBI's on-chain bond program involves XRP in some capacity, but confirmation of how XRP would be paid to investors is not yet established in public disclosures; further information from SBI is needed to clarify the arrangement ^[1][2][4].