Morningstar, a subsidiary that provides financial information services to the Japanese financial giant SBI, will continue its XRP scheme for the benefit of shareholders.
Morningstar has agreed to pay end-of-year compensation in the form of XRP, according to an official announcement Friday.
The new dividend option is part of the company’s year-end compensation program to thank shareholders for their ongoing support as well as temporary shareholder benefits. Under the program, Morningstar will offer an XRP bonus of 2,500 JPY ($ 23 USD) for every 100 shares held by shareholders as of March 31, 2021.
The SBI indicated that the exact amount of XRP offered to shareholders will be determined according to the market price of XRP registered on June 30, 2021. As part of this initiative, Morningstar will require shareholders to open cryptocurrency accounts through the cryptocurrency company SBI Group SBI VC Trade.
As previously reported, Morningstar started paying dividends in XRP again in 2019, offering 30 XRP per 100 shares. A Tokyo-based company that specializes in providing financial information and investment services. At the time of writing, the company’s share is trading at 493 yen ($ 4.5), up more than 2% in the past 24 hours, with a market value of 44.2 billion yen ($ 407,000).
SBI Group, the parent company of Morningstar, has weighed profits in XRP cryptocurrency and is considering launching such a program in 2020. The company is actively involved in developing XRP-based products across the entire ecosystem, allowing XRP to be lent in cryptocurrency. SBI VC Trade platform in February.
SBI supported Ripple in the midst of US lawsuits against the company. SBI Chairman Yoshitaka Kitao said Japan is the country most likely for Ripple to act if he is forced to leave the United States.