SBI Launches 10B Yen Blockchain Bond with XRP Rewards as Markets Cool

TLDR

• SBI issued 10B yen tokenized bonds with fixed yields and XRP rewards.

• Investors receive XRP bonuses at issuance and with interest payouts.

• XRP joins broader assets showing negative MVRV in recent market data.

• Institutions expand XRP use while prices track market corrections.

SBI Holdings is launching a blockchain-based bond offering that combines fixed-income payments with XRP rewards. The program expands the company’s long-running work across digital assets and comes as XRP continues to show increased institutional engagement. The new instrument also arrives during a period of market-wide stress, marked by negative valuation metrics across major assets.

The bond, named SBI START Bonds, totals 10 billion yen. It will be recorded on the “ibet for Fin” platform developed by BOOSTRY. The bonds carry a three-year term with indicative yields ranging from 1.85% to 2.45%. Interest payments will occur twice a year.

Tokenized Bond Structure and XRP Reward Program

SBI stated that eligible investors will earn XRP rewards based on their subscription amount. Retail participants and companies investing at least 100,000 yen and holding an SBI VC Trade account will qualify. The reward is equivalent to about 200 yen of XRP for each 100,000 yen invested. Rewards will be issued at the start of the program and again during each interest payment cycle through 2029.

Secondary trading is expected to begin on March 25 through the Osaka Digital Exchange. The platform’s START system will support trading of tokenized securities as Japan continues to expand its regulatory structure for digital assets.

SBI has maintained a connection with XRP for more than a decade. The company partnered with Ripple in 2016 and has supported cross-border payment services powered by XRP rails. SBI Chairman Yoshitaka Kitao has said the company owns about 9% of Ripple Labs. The bond launch continues a path that includes stablecoin development, blockchain infrastructure, and digital asset custody.

Institutional Momentum Around XRP Infrastructure

The new bond follows a memorandum of understanding signed in February 2026 between SBI Ripple Asia and Asia Web3 Alliance Japan. The agreement supports firms building on the XRP Ledger. Areas of collaboration include system integration, compliance, scalability, and proof-of-concept testing.

The bond structure places XRP within a traditional financial instrument. The move may encourage further exploration of tokenized systems that integrate both blockchain settlement and conventional investment yields. Japan’s regulatory clarity has allowed large institutions to explore new issuance models using digital tools.

Parallel developments in Europe add context to this trend. A major bank introduced a euro stablecoin on the XRP Ledger. This increased the number of regulated assets built on XRPL and continued a pattern of banks testing distributed networks for financial products.

Market Data Shows XRP and Other Assets Trading Below Cost

While institutional use grows, market metrics show pressure across major cryptocurrencies. Santiment reported that the 30-day MVRV ratio for several assets has turned negative. Ethereum is at negative 14.3%, Bitcoin at negative 6.9%, Chainlink at negative 5.1%, XRP at negative 4.1%, and Cardano at negative 2.0%.

MVRV compares the current price of a token with the average price at which wallets last acquired it. When the metric is below zero, the average holder is at a loss. This tends to reflect broad declines rather than concerns around a single asset.

For XRP, the negative reading places it in a range that some investors view as undervalued from a statistical perspective. Santiment said such periods previously aligned with accumulation phases. The firm pointed to 2022, when a similar pattern preceded gains over the following months.

The post SBI Launches 10B Yen Blockchain Bond with XRP Rewards as Markets Cool appeared first on CoinCentral.