Japanese financial conglomerate SBI Holdings is launching a blockchain-based bond offering for retail investors, combining traditional fixed income returns with cryptocurrency incentives.
Key points to remember:
- SBI issues 10 billion yen of tokenized bonds registered on a blockchain platform.
- Investors will earn fixed interest as well as XRP rewards linked to their subscription amount.
- This launch reflects SBI’s broader push to integrate crypto assets into traditional finance.
The new issuance, called SBI START Bonds, totals 10 billion yen (approximately $64.5 million) and will be registered and managed on-chain using the “ibet for Fin” platform developed by enterprise blockchain company BOOSTRY.
The three-year securities carry an indicative annual yield ranging from 1.85% to 2.45%, with interest paid twice a year.
SBI bond investors will receive XRP rewards on top of interest payments
In addition to fixed returns, eligible investors will receive rewards in XRP tokens. Retail buyers and businesses investing at least 100,000 yen (around $650) and holding an account with SBI VC Trade are eligible for the bonus program.
According to product details, investors will receive XRP equivalent to approximately 200 yen for every 100,000 yen invested.
Rewards will be distributed upon issuance and again with each interest payment through 2029.
The bonds are expected to begin trading in the secondary market on March 25 via the Osaka Digital Exchange’s proprietary START trading system, marking another milestone in Japan’s gradual rollout of tokenized securities markets.
SBI’s decision reflects its long-standing ties to the XRP ecosystem. The company partnered with Ripple in 2016 and has since supported XRP-based remittance services, including cross-border payments between Japan and the Philippines.
Chairman and CEO Yoshitaka Kitao previously said that SBI owns around 9% of Ripple Labs, highlighting the company’s strategic alignment with the network.
Founded in 1999 within SoftBank before becoming independent in 2006, SBI has become a major financial group with an annual turnover of more than $8 billion.
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Over the years, the company has expanded beyond brokerage and banking to digital assets, stablecoins and blockchain infrastructure.
SBI also worked with Circle to introduce the USDC stablecoin in Japan and signed a memorandum of understanding with Ripple to distribute its RLUSD stablecoin.
By pairing bonds with crypto incentives, the company is testing whether traditional investors will adopt tokenized securities offering familiar yields and blockchain-based settlement and rewards.
In August last year, Ripple signed a memorandum of understanding with SBI Holdings and its crypto arm SBI VC Trade to distribute its stablecoin Ripple USD (RLUSD) in Japan.
Ripple Secures UK Regulatory Approval Amid Global Expansion
This deployment comes as part of Ripple’s broader expansion into regulated markets. Earlier this month, the company received approval from the UK financial regulator for an electronic money institution license and crypto asset registration.
Ripple also received preliminary approval for a similar license in Luxembourg, allowing the company to expand its payment services across Europe.
In the United States, Ripple applied for a national banking license with the Office of the Comptroller of the Currency in July 2025, joining a growing list of crypto companies seeking deeper integration with the traditional financial system.
In recent months, the company has also secured approvals in Dubai and Abu Dhabi and onboarded partners including Zand Bank and Mamo.
As reported, Ripple is also considering whether to bring staking to the XRP Ledger (XRPL), a move that would push the decade-old blockchain deeper into the rapidly expanding world of decentralized finance.
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