- SBI is launching a mid-summer trading campaign for XRP in Japan.
- Participants can take part in cashback, lottery draws, and more.
- The goal is to encourage Japanese citizens to adopt XRP for digital payments.
Japanese financial services giant SBI Holdings is launching a promotional campaign for adopting XRP for payments and trading in the said country.
According to a press release originally written in Japanese, the name of the campaign is Midsummer XRP Festival, aimed at promoting the use of XRP among the country’s citizens. This was also observed by XRP influencer Crypto Eri.
Some notable promotions include a reward of 0.5% in XRP based on the participant’s spot trading activity in SBI’s own platform. To qualify, traders must accrue at least 10,000 Japanese yen (around $72) from July 14 to August 1. XRP prizes will be credited to the trader’s account in SBI’s trading platform specified in the press release.
There is also a counterpart for leverage traders, although instead of getting a fixed 0.5% reward, there will just be a random draw of winners of 100 XRP for 50 lucky traders.
On top of these, there were also other special promotions for those who would own and trade XRP. This initiative is part of SBI’s widespread XRP adoption agenda in the country. Earlier, SBI spearheaded a consortium of 47 Japanese banks that would revamp the country’s cross-border payments using Ripple and, effectively, XRP.
SBI’s remittance arm SBI Remit will roll out the new program to 15 countries. These countries are Australia, Bahrain, Belgium, Canada, China, Hong Kong, Israel, Maldives, Mauritius, Nepal, Oman, Singapore, South Africa, and the UK.
