Key Takeaways:
- SBI Shinsei Bank will reward depositors with BTC, ETH and XRP vouchers.
- Rewards equal roughly 20% of interest earned on ordinary and time deposits.
- A three-month campaign begins Wednesday ahead of a full launch this fall.
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SBI Shinsei Bank launches crypto rewards at 20% of deposit yield
SBI Shinsei Bank will offer depositors Bitcoin, Ethereum and XRP rewards worth about 20% of their interest earnings, Nikkei reported, marking one of the first programs by a major Japanese bank to link traditional savings to digital assets.
"SBI Shinsei Bank is creating a direct on-ramp from conventional deposits into crypto assets, potentially exposing mainstream banking customers to digital currencies without requiring them to make direct purchases," the Nikkei report said.
Customers will receive vouchers equal to roughly 20% of the interest paid on their deposits, in addition to yen-denominated interest. The vouchers can be exchanged for Bitcoin, Ethereum or XRP within a specified period at market rates. To redeem, customers must open an account with SBI VC Trade, the group's crypto exchange subsidiary. A three-month campaign begins Wednesday covering ordinary deposits and time deposits ranging from three months to five years, ahead of a full rollout planned for autumn 2026.
The program is the latest in a series of crypto initiatives by SBI Group, one of Japan's largest financial conglomerates and a long-time Ripple partner. SBI VC Trade launched a retail USDC lending service in March, allowing users to lend the stablecoin under fixed-term agreements. In May, the group said it was considering acquiring shares in Bitbank, another Japanese exchange. SBI Securities is also preparing to sell investment trusts and exchange-traded funds focused on Bitcoin and Ethereum, according to local reports. The group's push into Solana trading and custody for institutional clients further signals its strategy to build crypto access points across regulated banking, exchange and securities channels.
The deposit-voucher structure carries counterparty risk, as the rewards are tied to SBI VC Trade's ability to honor redemptions. Still, the program could pressure other Japanese banks to introduce similar crypto-linked deposit products as the country's regulatory framework for digital assets continues to evolve. Japan's Financial Services Agency has taken a relatively permissive stance on crypto, approving exchange registrations and stablecoin frameworks ahead of many peers.
This article is for informational purposes only and does not constitute investment advice.
[1] Breaking: Ripple Ally SBI Holdings Launches BTC, ETH, XRP Deposit Rewards[2] DeFi Saver announces reward program as part of their Hyperliquid integration[3] DeFi Saver announces reward program as part of Hyperliquid integration[4] SBI Shinsei links bank deposits to crypto rewards in Japan: Nikkei - Bitget
