The newest Japanese exchange SBI VC is now offering free XRP cryptocurrency for all of its new users. As we can see, the newest crypto players in the country of Japan are getting increasingly aggressive in their marketing efforts – and SBI VC is just one example in the latest Ripple news.
Operating the SBI VC Trade crypto exchange, this company recently tweeted that anybody opening an account between June 1 and September 30 will receive XRP 50 (now worth around $10). SBI is one of Ripple’s closest partners and the Japanese company uses Ripple’s MoneyTap solution in its own e-pay platform. Earlier this month, the company announced that it is looking to roll out a solution which makes use of MoneyTap in hundreds of Japanese ATMs.
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— SBI VC Trade (SBI VCトレード） (@sbivc_official) May 29, 2020
The CEO of the company, Yoshitaka Kitao, is a member of the Ripple board, and the company has made multiple XRP payouts so far to various shareholders of its Morningstar subsidiary. The Japanese exchange SBI VC Trade also said that it has launched an e-KYC (Know-Your-Customer) authentication platform which lets new customers conduct the entire registration process using their smartphones.
This has been a move that comes very hot on the heels of another cryptocurrency giveaway from a major new player on the Japanese crypto scene. We are talking about Rakuten and as we reported before, it has embarked on a month-long Bitcoin Pizza Day-themed promotion.
Notably, the Rakuten Delivery subsidiary is offering pizza delivery customers Bitcoin (BTC) handouts of up to around $9 – assuming that they have or will open accounts on the business group’s Rakuten Wallet exchange.
XRP BREAKING NEWS! "Almost All Japanese Banks Starting to use XRP" – David Jevans Rakuten Tech Conference https://t.co/9L4irG53o8 #xrp #xrpthestandard #xrparmy #xrpcommunity #ripple #ripplexrp @yoshitaka_kitao @Ripple @ciphertrace @RakutenUS
— Thinking Crypto (@ThinkingCrypto1) December 27, 2019
Besides the Japanese exchange offering free XRP and Rakuten doing promotions with rewards, we can see that the XRP-affiliated fintech firm Ripple has once again reduced selling from its massive holdings of XRP tokens. This time, it reached its lowest quarterly sales ever.
The new report shows that the first quarter of this year saw XRP sales by Ripple of $1.75 million. These new figures in the crypto news come after the company reported token sales of $13 million in the Q4 of 2019.
In Q1 2020, “Ripple continued the pause of programmatic sales, focusing solely on its over-the-counter (OTC) sales to build XRP utility and liquidity in strategic regions including [Europe, the Middle East and Africa] and Asia,” the company said.
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