SBI VC, a banking partner to Ripple announced a campaign to distribute XRP tokens to new and existing account holders. SBI VC Trade took to Twitter to announce the flag off of a new campaign that awards existing account holders with 200,000 Yen worth of XRP. New account holders are also eligible to win 1,000 Yen worth of XRP when the account is activated.
Open an Account With VCTRADE to be Eligible
Individuals can take part in this by opening an account on VCTRADE. Also, Neomova account holders are included in the campaign. More XRP transactions increase the holder’s chance of winning.
The campaign is scheduled to run from 23, August to 29 November. To be eligible, users must have a Neomova account and open a VCTRADE account.
The criteria are same for users that hope to participate based on the amount of the transaction. Also, the transaction amount determines how much the gift prize will be.
Users Must Run Both Accounts to be Eligible
Account holders on SBI are still not eligible if they do not have VCTRADE accounts. Both accounts are necessary to be a part of the campaign. Users would be asked to identify the email used in SBI Neomobile Securities Department Store and VCTRADE. They will also need to identify the account number used in the entry form to be eligible.
Users must also enter the correct email addresses to be eligible. SBI VC also has the right to determine the legibility of the participants. Also, the entire application process takes ten days from account opening to completion. Users will be screened for the process to complete.
Lastly, the press release stated that the company reserves the right to check accounts that violate the standing ‘Terms and Conditions’ these accounts will be excluded from the campaign. Also, accounts that are canceled when the grant is offered will not be eligible to participate.
Is this Good News For XRP?
So far, XRP price has seen better days. Since the token fell below the $0.3 level, it has been unable to recover. The token has been trading sideways for a few hours. This campaign could boost the token in more ways than one. As more new users are drawn into the XRP family, the price may begin to stabilize again. Aside from the possible influx of new XRP users, the campaign could bring more awareness about cryptocurrencies as a whole with XRP at the forefront. This could help boost the promotion of XRP in Japan.