XRP Holders Get Special Offer from Japanese IT Behemoth
GMO Coin, the cryptocurrency exchange of Japanese giant GMO Internet, has confirmed that it will be issuing airdrops of Songbird (SGB) tokens to holders of XRP in Japanese yen. The funds will be delivered by the end of the month.
The Songbird airdrop
Eligible customers for this offer are those who held physical XRP in a GMO Coin account as of 9:00 AM on Saturday, Dec. 2, 2020. This also extends to customers using the company's crypto asset lending services.
The amount of the airdrop will be determined based on a snapshot of XRP holdings taken at the same time and converted to yen using a proprietary method.
Alex DovbnyaAlthough the standard price for the conversion is yet to be announced, GMO Coin has confirmed that even if customers sell or send their XRP after the snapshot, they will still be eligible for the airdrop. The company plans to deliver the funds to qualifying accounts by Sept. 29.
GMO Coin's crypto endeavors
GMO has been bullish on cryptocurrencies, consistently making developments in the crypto space. On top of launching a crypto exchange, it also initiated a bitcoin mining operation before shutting it down due to a crypto market downturn back in 2018. Additionally, GMO Internet has been licensed to issue a JPY-pegged stablecoin in New York. Earlier this year, GMO Financial Holdings acquired a 10% stake in AWR Capital, a prominent crypto hedge fund.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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