XRP Holders to Receive Songbird Airdrop in Japanese Yen From This Exchange

The cryptocurrency exchange arm of Japanese IT giant GMO Internet says it will distribute the Songbird airdrop to eligible XRP holders in Japanese yen.

GMO Coin, the cryptocurrency exchange arm of IT giant GMO Internet, has announced plans to airdrop Songbird (SGB) tokens to XRP holders later this month.

According to a recent announcement, GMO Coin will distribute the SGB airdrop to XRP holders in the form of Japanese yen.

“We would like to inform you that we have decided to issue SGB airdrops to XRP holders in Japanese yen,” the announcement read.

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GMO’s SGB Airdrop

Per the announcement, the amount of airdrop each GMO user will receive will be determined based on their XRP holdings at the time of the snapshot- December 12, 2020.

Furthermore, each user who held XRP in a GMO account during the snapshot will receive the token at a ratio of 0.1511 SGB: 1 XRP.

Notably, GMO said eligible XRP holders will receive their SGB airdrop in Japanese yen. It added that the funds will be distributed to eligible users by September 29, 2023.

It is worth noting that customers of GMO Coin’s lending product are also eligible to receive the airdrop. Additionally, GMO customers who sold their XRP coins immediately after the snapshot are also eligible to receive the funds.

Exchanges Supporting SGB Airdrop

Following the development, GMO Coin has joined the list of exchanges supporting the SGB airdrop. Last year, Flare Network released a list of crypto exchanges supporting the exercise. Some of the exchanges include Binance, Kraken, KuCoin, MEXC Global, Bithumb, Cryptocom, and Upbit.

After a series of delays, Flare Network finally airdropped the SGB tokens to the exchanges on January 10, 2023. These exchanges were tasked with the responsibility of distributing the tokens to eligible XRP holders.

At press time, a unit of SGB was changing hands at $0.0046, down 1% over the past 24 hours.