SBI Holdings Launches $64.5M XRP-Backed On-Chain Bonds

SBI Holdings has introduced on-chain bonds worth $64.5 million that reward investors with XRP, marking an effort to increase institutional validation in the crypto market.

The initiative involves issuing fully on-chain bonds that are settled and administered directly on blockchain infrastructure. The bonds will be traded on the Osaka Digital Exchange's START system, with secondary trading expected to begin in March 2026.

The reward structure for investors is designed to provide XRP tokens equivalent to their subscription amount after confirmation, subject to eligibility requirements. Additional XRP distributions will follow scheduled interest payment dates through 2029.

This move aims to embed XRP in traditional finance structures, rather than leaving it solely within the spot trading arena. The potential implications are significant, as increased demand for the bonds could lead to sustained structural demand for the token, potentially accelerating institutional adoption beyond simple exchange trading.