SBI Holdings shareholders will receive dividends in XRP tokens

Japanese corporation SBI Holdings intends to pay dividends to shareholders in XRP-equivalent through the VCTrade exchange. This is stated in a press release .

So, everyone who owns more than 100 shares of the company will receive 30 XRPs per account on VCTrade, which was launched last year. Moreover, the type of stock is not important.

Note that shareholders can apply for dividends until March 31, 2020. The company will reveal more details in mid-November.

Meanwhile, critics of Ripple perked up significantly. In mid-August, a group of investors filed a class action lawsuit against a California fintech startup, accusing it of violating US securities laws. It is noteworthy that the plaintiffs refer to the leadership of the US Securities and Exchange Commission (SEC), which sets out the principles for determining securities.

Relatively recently, a change petition appeared on Change.org urging Ripple to stop “draining” XRP tokens, bringing down their price. Later, its author suggested forking the network and giving the community control over it if the company does not fulfill the requirements.

Ripple are finally starting to take us serious!

The power of the petition is making waves ? @bgarlinghouse @ JoelKatz you now have 60 days to stop dumping $ XRP or we will stage a community takeover.

If it's a decentralized network like you say, we have the power to do it ⏰ https://t.co/nKzqRGHZoh

– CRYPTO BITLORD (@Crypto_Bitlord) August 28, 2019

Ripple CEO Brad Garlinghouse, however, said that XRP is not a security, and the SEC management is a law. According to him, token sales help strengthen the asset's utilitarian properties, especially in the context of the expansion of RippleNet.

2 / XRP sales are about helping expand XRP's utility – building RippleNet & supporting other biz building w / XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q / Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.

– Brad Garlinghouse (@bgarlinghouse) August 27, 2019

At the same time, despite some uncertainty, the eighth largest US bank PNC has become a new member of RippleNet. The industry giant completed the xCurrent product experiment last September.

Recall that in 2018 SBI Holdings announced the launch of the MoneyTap payment application based on Ripple technology. However, one of the partner banks subsequently withdrew from the project, the fate of which is currently unknown.

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