SBI Holdings has launched a ¥10 billion (approximately $65 million) on-chain bond that delivers XRP to investors alongside a conventional coupon, bringing a blockchain-based security into Japan’s regulated market for retail savers.
Tokenized Bond Issued on BOOSTRY’s ibet for Fin
According to company materials and local reports, the issuance is recorded, issued, and managed on a blockchain using the ibet for Fin platform developed by BOOSTRY. The structure tokenizes the bond as a security token, with XRP distributed to investors around settlement and on scheduled interest dates through 2029. Some local coverage has referred to the issuance as the “SBI Start Bonds.”
XRP is the digital asset associated with Ripple’s payments network and is used by some institutions for cross-border settlement. By combining a fixed-income instrument with crypto rewards, the deal provides direct exposure to XRP within Japan’s existing securities framework.
Trading and Yield Details
Secondary trading of the security tokens is slated to take place on a proprietary system operated by the Osaka Digital Exchange (ODX), with trading expected to begin on March 25, 2026. Reports indicate the offering carries a coupon in the low single digits, blending traditional interest payments with periodic XRP distributions.
Eligibility and Distribution
- Participation and XRP rewards are limited to domestic residents in Japan.
- Investors must hold an account with SBI VC Trade to receive the XRP component.
- Procedural steps to claim the XRP benefit must be completed by mid-May 2026, according to the offering details.
Market Significance
While the issuance size is modest relative to global crypto markets, the structure is notable for integrating a digital asset incentive into a regulated bond. Market watchers say the design could support incremental demand for XRP due to distribution and future payout needs, and may encourage additional tokenized offerings from Japanese financial institutions.