Japan’s SBI e-Sports will be pay salaries to players in Ripple (XRP)

SBI esports has announced that its esports players would receive salaries in XRP going forward as part of a sponsorship deal with venture capital firm, SBI VC Trade.

SBI VC Trade is a crypto asset sales office and exchange that provides safe and secure transactions of crypto assets to as many people as possible against the background of high reliability as an SBI group company.

According to SBI VC Trade, player salaries will be paid via crypto instead of fiat in order to strengthen the company’s presence among esports players who also use digital currencies.

SBI esports, which is a long-time Ripple partner, said that this sponsorship deal is a way to diversify its portfolio within the blockchain industry. Their goal is to “create and nurture a healthy market based on customer-centricity, improve prices, and expand liquidity.”

XRP was designed to provide on-demand liquidity as a bridge currency between fiat currencies in the remittance of financial institutions. As a result, financial institutions are said to be able to expand the reach of remittance destinations globally while significantly lowering liquidity costs, said SBI esports.

As AZCoin News reported in 2019, Morningstar Japan, a subsidiary of giant financial services group SBI Holdings, announced that they would pay dividends to shareholders in the form of XRP tokens. According to the statement, the Japanese company will provide 30 XRP to its shareholders if they hold a minimum of 100 shares on September 30, 2019.

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