Morningstar, a subsidiary of SBI Group, a financial intelligence services holding company, has announced that it will continue to work with Ripple.
to the the report Morning Star Coin Telegraph confirmed yesterday that it will deposit its year-end dividends in XRP.
Dividend payment is part of the company’s year-end bonus program, which is implemented to thank shareholders for their support. Under the plan, the Morning Star pays about 2,500 Japanese yen ($ 23) per 100 shares.
The SBI notes that the exact amount of XRPs paid to shareholders is calculated based on the Ripple price on July 30, 2020. Morning Star has asked its shareholders to open digital currency accounts using its subsidiary SBI VC Trade.
Morning Star has been paying dividends using XRP since 2019. At that time, XRP 30 per 100 shares was paid to shareholders. The Tokyo-based Morning Star is a company that specializes in investment research services and financial information. At the time of writing, the company is trading at 493 yen ($ 4.5), up 2% from the previous 24 hours. The market value of this company is $ 407,000.
The parent company of Morningstar was also interested in paying dividends in the form of XRP and planned to launch a similar program in 2020. The company is actively involved in the development of XRP-based products. In February, it was announced that users could apply for XRP loans on the SBI VC Trade platform.
Ripple is involved in a lawsuit in the United States. Despite complaints from the US Securities and Exchange Commission (SEC), the SBI continues to support Ripple. SBI CEO Yoshitaka Kitao has previously said that Japan is the best country for Ripple to operate if it leaves the United States.