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October 16th 2020
SBI eSports, a subsidiary gaming venture of Japanese financial giant SBI Holdings, has signed two professional players to its e-team. In an official announcement made on 16th October, the SBI e-sports subsidiary also revealed that they would be paying its player’s salaries in XRP.
Back in September, the firm revealed that they were planning on paying their player’s salaries in cryptocurrencies. The official announcement read,
“The company aims to raise awareness of the SBI Group by strengthening contact points with the digital generation, and to create synergies with the various financial services businesses of the SBI Group.”
The payment of salary in the digital token would be facilitated via SBI’s crypto-asset trading division called SBI VC Trade. However, the final decision to accept salaries in XRP tokens would lie in the players’ hands. The official signing read,
“Players will be paid in the crypto asset ‘XRP’ instead of Japanese yen based on the wishes of the player and the sponsorship contract with SBI VC Trade Co., Ltd.”
The two pro players signed by the SBI eSports include one of Japan’s top pros in the Nintendo Switch fighting game, Super Smash Bros, Ultimate player Kenji “Ken” Suzuki, and FIFA 21 player Subaru “Mikey” Sagano, who has represented the German soccer club 1. FC Nürnberg.
The signings made by the SBI e-Sports is one of a kind because of the digital asset salary clause, which was not only highlighted in the official announcement but also in the personal tweets made by the signed players.
SBI to Conduct a Security Token Offering for SBI eSports
The SBI Group is also set to conduct a security token offering for the eSports subsidiary expected to occur on October 30. The offering would see 1000 total shares up for grabs valued at 50,000 yen (about $475) per share.
SBI Group is a Ripple partner and one of the significant stakeholders in the digital asset firm.