SBI Holdings, a Japanese financial services conglomerate, announced on February 20, 2026, the issuance of a ¥10 billion ($64.5 million) digital bond dubbed "SBI START Bonds." The instrument is fully recorded and managed on-chain via BOOSTRY's ibet for Fin platform.
Bond Structure and XRP Incentives
The three-year bond carries an indicative annual yield of 1.85% to 2.45%, with semi-annual interest payments. Retail investors and companies investing at least ¥100,000 ($650) through SBI VC Trade accounts qualify for XRP token rewards. For each ¥100,000 invested, participants receive approximately 200 yen worth of XRP at issuance and alongside each interest payment through 2029.
Secondary Trading via Osaka Digital Exchange
The bonds will enter secondary trading on March 25 via the Osaka Digital Exchange's START system, enabling on-chain transfers instead of traditional securities settlement. This is among Japan's first retail-focused on-chain bond programs, blending fixed-income returns with crypto incentives.
SBI's Deep Ties With Ripple
SBI has partnered with Ripple since 2016, supporting XRP-powered remittances such as Japan-Philippines transfers. Chairman and CEO Yoshitaka Kitao previously stated that SBI holds roughly 9% of Ripple Labs. The bond issuance extends integration by offering retail investors a regulated bridge between fixed-income securities and blockchain assets.
Japan's Gradual Tokenized Security Rollout
SBI has also worked with Circle to bring USDC stablecoins to Japan and signed a memorandum with Ripple to distribute RLUSD stablecoins. The on-chain management reduces reliance on traditional registration while offering transparent distribution of interest and XRP rewards. As Ripple gains regulatory approvals in the UK and Luxembourg, SBI's move signals growing convergence of digital assets and regulated financial products.