SBI Holdings has quietly rolled out a new on-chain bond designed to give ordinary investors direct exposure to XRP while keeping the product within Japan’s regulated market.
Reports say the issuance by the Japan-based financial group totals 10 billion yen and is recorded, issued and managed on a blockchain system rather than through the usual securities infrastructure.
SBI is starting a new type of bond
Based on reports, the bonds – nicknamed the “SBI Starter Bonds” in some reporting – are tokenized on a platform called ibet for Fin, a system built by BoosTry to register and manage securities onchain.
Investors who purchase into the offering will receive XRP at approximately the time their purchase settles. The company also has additional XRP benefits planned to be paid on interest dates extending through 2029.
How the trade will work
Trading of these security tokens will take place on a proprietary system operated by Osaka Digital Exchange, with secondary market activity expected to commence on March 25, 2026.
Reports indicate the bonds have a modest yield range, with some outlets citing an indicative coupon band in the low single digits – a feature that combines a fixed-income payout with crypto rewards.
Japan’s SBI Holdings has launched a ¥10 billion ($64.5 million) on-chain bond offering that rewards investors with $XRP. https://t.co/X9U0nW3sd2 pic.twitter.com/b7hwHJTiEG
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 21, 2026
Who can get the XRP
The eligibility rules are strict. Reports indicate that the holders must be domestic residents and have an account with SBI VC Trade to collect the amounts XRP benefit; There is a procedural deadline for completing the receipt steps by mid-May.
In short, this isn’t an open, global giveaway; the offering is aimed at local retail investors in Japan and is subject to local account requirements.
Market reaction and possible effects
Based on reports and market commentary, the structure could boost demand for XRP as the issuer must supply the token for distribution and future payouts.
Some market observers point out that while the initial amount – roughly around $64.5 million – is limited relative to the size of global crypto markets, the product matters more because of what it represents: a mainstream financial group packaging a digital asset into a regulated bond product. That could prompt other Japanese companies to take similar steps.
Featured image of Trade Brains, chart from TradingView