GMO Coin Announces Airdrops of Songbird (SGB) Tokens to XRP Holders in Japan

GMO Coin, the cryptocurrency exchange of Japanese IT giant GMO Internet, is offering airdrops of Songbird (SGB) tokens to eligible XRP holders in Japan. Learn more about this unique offer.

Posted 8 months ago in Blockchain

Image: Airdrops of Songbird (SGB) tokens representing the connection between GMO Coin and XRP holders.

Japanese IT giant GMO Internet's GMO Coin is rolling out a unique offer, offering airdrops of Songbird (SGB) tokens to eligible holders of XRP.

GMO Coin has confirmed that it will be issuing airdrops of Songbird (SGB) tokens to holders of XRP. The funds will be delivered by the end of the month.

The Songbird airdrop is available to customers 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.

Although 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 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.

Last updated 9/20/2023, 2:20:29 AM


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