SBI Rolls Out On-Chain Bonds Worth 10 Million Yen with XRP Rewards

SBI Holdings is bringing tokenized finance closer to everyday investors in Japan with its new SBI START Bonds and an XRP reward program. The main issue is confusion around the headline amount, because some posts say 10 million yen.

SBI’s official announcement points to a much larger issuance, and that matters when people assess how serious this launch is for the market.

We will clears up the number, explains how the bond and XRP rewards work, and shows why the launch matters for retail investors and Japan’s digital securities market in the short term and in future product design more broadly.

Key Takeaways

• The reported issuance size is JPY 10.0 billion, not 10 million yen.
• The SBI START Bonds are planned as a 3-year on-chain security token bond using BOOSTRY’s ibet for Fin platform, with secondary trading expected on Osaka Digital Exchange’s START system.
• Eligible buyers can receive XRP rewards in addition to bond interest, with rewards tied to subscription amount.

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What are SBI START Bonds?

If you are searching for what SBI START Bonds are, here is the simple version. It is a planned security token bond issuance by SBI Holdings for individual investors in Japan. 

Instead of using the usual legacy bond management flow, SBI says issuance and management will be handled through the blockchain platform ibet for Fin run by BOOSTRY.

SBI also states this is its first bond issuance in the ST bond format, and it expects the instrument to be available on the Osaka Digital Exchange START proprietary trading system for individual investors.

That is why this launch gets attention beyond crypto circles. It sits inside a regulated market structure, not only a crypto app environment.

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Core bond terms at a glance

• Total issue amount: JPY 10.0 billion
• Indicative annual interest rate: 1.85% to 2.45%
• Pricing date (scheduled): March 10, 2026
• Payment date (scheduled): March 24, 2026
• Maturity: March 23, 2029 (3-year term)
• Interest payments: Twice a year (March 24 and September 24)

SBI Rolls Out On-Chain Bonds With XRP Rewards: What Investors Should Know?

The phrase SBI Rolls out on-chain bonds with XRP rewards is accurate in the broad sense, but the details matter.

The company confirms XRP benefits for eligible bondholders in amounts linked to subscription size, while reports describe the reward as about JPY 200 worth of XRP per JPY 100,000 invested, paid at issuance and on interest payment dates through 2029.

This means the bond return has two layers. First, the fixed-income side comes from the bond coupon. Second, the XRP benefit adds a crypto-linked incentive.

It is a hybrid setup that may appeal to traditional investors who want a familiar bond format plus a small digital asset bonus. That does not remove risk, but it does make the product easier to understand than many pure crypto products.

Eligibility and participation basics

• Investors typically need to meet standard account and verification requirements through SBI channels
• XRP benefits are generally limited to eligible participants based on the product terms
• The reward process is tied to procedures connected to SBI VC Trade
• Reports indicate a minimum subscription threshold of JPY 100,000 for the full reward program

Why the wording online causes confusion?

You may see variations like SBI holdings launched on-chain bonds with XRP rewards, bonds with XRP rewards from SBI, or SBI Japan issues Bonds with XRP rewards. These all point to the same story, but reposts sometimes mix up the amount or timeline.

The key takeaway is that the issuance is widely reported as a major retail tokenized bond launch in Japan, not a small test-sized offering.

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Why This Matters for Japan’s Tokenized Finance Market

This launch is interesting because it combines a regulated bond framework with blockchain-based administration and a crypto incentive.

In practical terms, it gives retail investors a familiar product format while introducing on-chain infrastructure in the background. That can lower the learning curve and make tokenized finance feel less abstract.

It also shows a product design trend that may grow in 2025 and 2026. Instead of asking users to choose between traditional finance and crypto, firms can package both into one regulated product. 

Whether it becomes a larger trend will depend on investor demand, product performance, and secondary market activity after trading starts. Still, the structure is a useful real-world case for tokenization watchers and XRP market participants alike.

What to watch next?

• Final coupon setting after the pricing date
• Actual investor uptake during the subscription period
• Secondary trading activity on Osaka Digital Exchange START
• How future issuers copy or change the reward model
• Whether more tokenized bond products use crypto incentives in Japan

Conclusion

SBI’s SBI START Bonds are a step in Japan’s tokenized securities market because they pair a regulated bond structure withnotable  on-chain processing and XRP rewards. The key correction is simple but important: the issuance amount is JPY 10.0 billion, not 10 million yen. For readers tracking tokenization, XRP utility, or Japan’s digital finance trend, this is a strong case study to follow.

FAQ

Is SBI really issuing a 10 million yen bond with XRP rewards?

Most coverage describes this as a much larger issuance, widely reported at JPY 10.0 billion. The 10 million yen wording usually comes from headline confusion or repost errors.

What is the bond called?

It is referred to as SBI START Bonds, a security token bond offering aimed at individual investors.

How do the XRP rewards work?

Eligible investors receive XRP benefits tied to their subscription amount, alongside regular bond interest payments based on the bond schedule.

What platform is used for the on-chain bond management?

The bond is managed using BOOSTRY’s ibet for Fin platform, which supports blockchain-based securities operations.

When is secondary trading expected to begin?

Reports indicate secondary trading is expected to begin in late March 2026 through the Osaka Digital Exchange START system.

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