The recently-established esports team of Japanese financial firm SBI Holdings, SBI e-sports, has announced recently that it has signed two professional players to the team, and both will be paid in Ripple’s XRP cryptocurrency.
The company had announced its intention to pay the pro players in XRP in late September thru a partnership with the SBI VC Trade, SBI’s crypto-asset sales division. But the announcement stated that the decision to accept the XRP as payment would be up to the individual players.
Recently, SBI e-Sports announced the first two signings: Super Smash Bros. Ultimate player Kenji “Ken” Suzuki, known as one of Japan’s top pros in the Nintendo Switch fighting game, and the FIFA 21 player Subaru “Mikey” Sagano. Mikey formerly participated on behalf of German soccer club 1. FC Nürnberg.
The XRP element of the contracts then highlighted the team’s announcements and the individual players’ tweets about the agreement.
SBI e-Sports is the first e-sports team that makes the cryptocurrency salary payments a significant part of the public messaging. The division has been announced in June, and all the while, the SBI VC Trade deal hasn’t been publicized; the organization did signal the plans to collaborate with the SBI’s financial services divisions.
In the previous week, the SBI group had announced the plans to launch a security token that offers SBI e-sports on October 30. The offering includes 1,000 total shares in the company for 50,000 yen apiece, and it will take place thru BOOSTRY’s Tibet blockchain platform.
The SBI Group, Ripple’s partner, and a Significant stakeholder had begun offering XRP dividends to specific shareholders in the first months of this year. In September 2019, MorningStar Japan, which SBI holds a 48% stake in, did a similar thing.