Japanese securities giant to issue $65 million worth of XRP-paying blockchain bonds

Ripple’s closest Asian partner and long-term XRP bull SBI Holdings has announced a plan to issue around $65 million worth of onchain bonds.

The bonds will pay their owners a fixed interest rate of between 1.85% and 2.45%, to be paid half-yearly. And the bonds will provide their owners with $1.29 worth of XRP for every $645 worth of the bonds they own.

The company said the bonds will be issued in March and will mature in early 2029.

Both Ripple and consulting firms like the Boston Consulting Group have spoken of “exponential” mid-term growth in tokenised financial products. Advocates have talked up “a best-case scenario” that could see the market grow to $68 trillion by 2030.

XRP bull

In Japan, securities and financial firms are scrambling to enter the tokenised securities market. Last year, Mitsubishi UFJ Financial Group, one of the biggest financial firms in the world with a market cap of $226 billion, announced its imminent entry into the sector.

Its closest rivals, such as Nomura, have already embarked on their own journeys. Last year, Nomura announced a $52 million securities token issuance for venture capital fund managers.

SBI, by contrast, says its XRP-paying bonds are primarily designed for retail investors.

The firm said the leading Japanese financial group Mizuho Bank will act as its bond administrator and register administrator.

SBI’s CEO Yoshitaka Kitao recently dismissed claims that his firm holds $10 billion worth of XRP, but admitted to owning a 9% stake in Ripple Labs.

Regardless of these claims, SBI does appear to have not inconsiderable XRP holdings. In 2020, the firm’s e-sports subsidiary announced it would be paying its players in XRP.

The firm also began offering its shareholders XRP dividends in 2020, and has made six XRP dividend payments to date.

SBI said it will make its new bond issuance via the ibet for Fin platform, which was developed by the blockchain startup Boostry.

The same startup also provided Nomura with similar services for its own December 2025 offering.

SBI said that only account holders at its crypto exchange subsidiary, SBI VC Trade, will qualify for its XRP rewards program.

Tokenisation goes global

Major European financial players are also making tokenisation moves this month. The French banking firm and asset manager recently used the Ethereum blockchain network to issue a pilot tokenised share class of a domestic money market fund.

US-based firms like BlackRock and Franklin Templeton have also begun on their own tokenisation journeys, using networks like Ethereum, Arbitrum, and Avalanche to tokenise funds.

Tim Alper is a News Correspondent at DL News. Got a tip? Email him at tdalper@dlnews.com.