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SBI Shinsei Bank plans to launch a deposit rewards program in Japan that gives customers cryptocurrency exchange vouchers linked to interest earned on their bank deposits.
The program connects yen deposits to Bitcoin, Ether and XRP rewards through SBI VC Trade, the crypto exchange arm of SBI Group.
Vouchers Equal 20% of Deposit Interest
Customers will receive their usual yen-denominated interest and an added voucher equal to 20% of the interest payment. The voucher can be exchanged for Bitcoin, Ether or XRP during a set redemption period.
The bank will first run a three-month campaign starting June 10. The offer covers ordinary deposits and time deposits with maturities from three months to five years.
Deposits Stay Yen-Denominated During Campaign
The structure keeps the deposit itself in yen while giving customers a separate route into digital assets. That lets SBI Shinsei test demand without turning the bank deposit into a crypto product.
Customers still earn normal yen interest. The crypto exposure comes only through the separate voucher that can be redeemed through SBI VC Trade.
SBI VC Trade Handles Crypto Redemptions
Customers must open an SBI VC Trade account to redeem the vouchers. That requirement moves the crypto part of the program onto SBI Group’s licensed digital asset platform rather than inside the bank account.
SBI VC Trade appears on Japan’s Financial Services Agency list of registered crypto-asset exchange service providers. The same list shows the company handles Bitcoin, Ether, XRP and several other tokens.
Japan Regulator Warns on Crypto Risk
Japan’s regulator warns that crypto-assets are not legal tender backed by the government and that prices can fall sharply. That risk disclosure matters because deposit customers may enter crypto through a rewards product rather than a direct trading decision.
The program therefore sits between a conventional bank deposit and a crypto exchange account, with the voucher acting as the link between the two.
June 10 Campaign Tests Deposit-Linked Rewards
The campaign fits SBI Group’s push to connect traditional financial products with digital assets. Because redemption requires an SBI VC Trade account, the program also directs eligible customers to SBI Group’s crypto platform.
The next step is the June 10 campaign, which will show whether deposit customers are willing to claim Bitcoin, Ether or XRP rewards tied to their bank interest.
