Japanese financial services giant SBI Holdings is launching a promotional campaign to introduce XRP for payments and trading in Japan.
According to the press release, the campaign is called Midsummer XRP Festival and aimed at promoting the use of XRP among the citizens of the country. This was also noticed by XRP influencer Crypto Eri.
Some promotions include a reward of 0.5% in XRP based on the participant’s activity in spot trading on SBI’s own platform. To qualify, traders must deposit at least 10,000 Japanese yen (about $72) between July 14 and August 1. The XRP rewards will be credited to the trader’s account on the SBI trading platform specified in the press release.
There is also a counterpart for leveraged traders, although instead of receiving a flat 0.5% reward, there will simply be a random draw of 100 XRP winners for 50 lucky winners.
Apart from this, there were other special promotions for those who will own and trade XRP. This initiative is part of SBI’s large-scale program to introduce XRP in the country. Previously, SBI led a consortium of 47 Japanese banks that are modernizing the country’s cross-border payments using Ripple and essentially XRP.
SBI Remittances SBI Remit will roll out the new program in 15 countries. These countries are Australia, Bahrain, Belgium, Canada, China, Hong Kong, Israel, Maldives, Mauritius, Nepal, Oman, Singapore, South Africa and the UK.