SBI Shinsei ties deposits to crypto rewards

SBI Shinsei Bank will reportedly launch a deposit programme that rewards customers with cryptocurrency exchange vouchers, linking traditional savings accounts to digital assets through the group's crypto exchange business.

According to Nikkei, customers will receive vouchers worth 20% of their interest payments in addition to standard yen-denominated interest, with the rewards redeemable for Bitcoin, Ether or XRP through SBI VC Trade.

The rollout will begin with a three-month campaign covering ordinary savings accounts and time deposits ranging from three months to five years, offering customers exposure to cryptocurrencies without requiring a direct purchase.

Customers must open an SBI VC Trade account to redeem the vouchers, creating a bridge between the bank’s deposit products and its regulated cryptocurrency exchange services.

The initiative follows a series of digital asset expansions by SBI Group as it positions itself for broader crypto adoption across Japan’s financial sector.

In March, SBI VC Trade launched a USDC lending service that allows retail users to lend stablecoins to the platform in exchange for fixed returns, while in May the group disclosed plans to consider acquiring a stake in crypto exchange Bitbank after previously absorbing Bitpoint Japan.

SBI’s securities division is also preparing crypto-focused investment products, including investment trusts and exchange-traded funds tied to assets such as Bitcoin and Ether, highlighting the group’s strategy of integrating digital assets across banking, trading, lending and investment services.

At the time of reporting, Bitcoin price was $61,698.69.