Japanese financial conglomerate SBI Holdings is introducing a blockchain-based bond offering for retail investors, blending traditional fixed-income returns with cryptocurrency incentives.
Key Takeaways:
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SBI is issuing 10 billion yen in tokenized bonds recorded on a blockchain platform.
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Investors will earn fixed interest plus XRP rewards tied to their subscription amount.
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The launch reflects SBI’s broader push to integrate crypto assets into traditional finance.
The new issuance, called the SBI START Bonds, totals 10 billion yen (about $64.5 million) and will be recorded and managed onchain using the “ibet for Fin” platform developed by enterprise blockchain firm BOOSTRY.
The three-year securities carry an indicative annual yield ranging from 1.85% to 2.45%, with interest paid twice a year.
In addition to fixed returns, eligible investors will receive XRP token rewards. Retail buyers and companies investing at least 100,000 yen (roughly $650) and holding an account with SBI VC Trade qualify for the bonus program.
According to the product details, investors will receive XRP equivalent to about 200 yen per 100,000 yen invested.
The rewards will be distributed at issuance and again alongside each interest payment through 2029.
The bonds are expected to begin secondary trading on March 25 via the Osaka Digital Exchange’s proprietary START trading system, marking another step in Japan’s gradual rollout of tokenized securities markets.
SBI’s move reflects its long-standing ties to the XRP ecosystem. The firm partnered with Ripple in 2016 and has since supported XRP-powered remittance services, including cross-border payments between Japan and the Philippines.
Chairman and CEO Yoshitaka Kitao has previously said SBI holds roughly 9% of Ripple Labs, underscoring the company’s strategic alignment with the network.
Founded in 1999 as part of SoftBank before becoming independent in 2006, SBI has grown into a major financial group with more than $8 billion in annual revenue.
Over the years, the company has expanded beyond brokerage and banking into digital assets, stablecoins and blockchain infrastructure.
SBI has 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 firm is testing whether traditional investors will adopt tokenized securities that offer familiar yields alongside 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 Ripple USD (RLUSD) stablecoin in Japan.