| Key Points: – SBI launches first on-chain security token bond paying investors in XRP. – Bridges traditional bonds with blockchain distribution via BOOSTRY’s ibet for Fin. – ¥10B issuance, XRP at subscription and interest; START trading begins 2026. |
According to FXLeaders, SBI Holdings has launched what it calls the first-ever on-chain security token bond issuance, allowing holders to receive an equivalent amount of XRP. The structure connects a conventional bond to blockchain-based distribution. The issuance size is approximately ¥10 billion (about $64.5 million), as reported by Coinfomania.
Coingape reports that the bonds are issued and administered on the “ibet for Fin” platform by BOOSTRY, with XRP delivered at subscription and on scheduled interest dates in March 2027, 2028, and 2029. The trading venue is Osaka Digital Exchange’s START market, with secondary trading slated to begin March 25, 2026. Details on how the XRP amount is calculated or whether principal redemption remains in yen were not specified in that report.
Key terms: SBI Holdings on-chain security token bond
Based on the cited coverage, the instrument is a security token bond recorded and administered on-chain, with distributions made in XRP rather than a traditional cash coupon. The timetable currently referenced includes XRP at purchase and subsequent interest payments in March of 2027, 2028, and 2029, alongside a planned START market trading commencement on March 25, 2026.
For clarity on what the product seeks to deliver, the following description from a crypto trade publication captures the core promise. “Japan-based financial group SBI Holdings has launched on-chain Security Token bonds that grant holders an equivalent amount of XRP,” said The Crypto Basic.
Regulatory specifics, including any formal guidance on crypto-denominated coupon payments under Japan’s securities rules, were not included in the initial reports. Confirmation from the Japan Financial Services Agency (FSA) and detailed issuer documentation would clarify calculation mechanics, principal currency, custody, and tax handling.
At the time of this writing, market data for XRP show a spot price near $1.44 with very high 12.91% volatility and a bearish sentiment profile. Technical context includes 10 green days in the last 30 (33%), a 50-day SMA of 1.79, a 200-day SMA of 2.31, and an RSI(14) around 41.42 (Neutral).
What to watch next and open questions
Reported dates: interest in March 2027–2029; START Mar 25, 2026
The referenced timelines point to XRP distributions in March 2027, 2028, and 2029, and to secondary trading on Osaka Digital Exchange’s START beginning March 25, 2026. These dates remain subject to formal confirmation in issuer or regulatory materials.
Outstanding details awaiting confirmation from SBI or the FSA
Key mechanics, such as how each XRP payout is computed at the interest date, the currency of principal redemption, and custody/settlement arrangements for token distributions, were not specified in the cited coverage. Clarity on tax treatment and any withholding for crypto-denominated coupons in Japan also remains outstanding.
Eligibility, allocation, and operational workflows for wallet delivery and KYC are likewise not described in the reports reviewed. As of publication, no official statements from SBI or the FSA were identified in the cited materials.
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