SBI Shinsei Bank launched a pilot program last June that lets customers convert up to 20% of their deposit interest into crypto vouchers — redeemable at real-time market rates for XRP, Bitcoin, or Ethereum. The initiative, integrated with the bank's existing Hyper Deposit product, is set for a full rollout by autumn of this year.
How the pilot works
Under the program, interest earned on Hyper Deposit accounts can be redirected into crypto vouchers at the prevailing market price. The bank calculates the conversion at the time of redemption, giving customers exposure to digital assets without directly holding them. The pilot went live on June 10, 2024, and has been running for about a year.
Ties to RLUSD and XRP
The move fits into SBI's broader digital asset strategy, which includes plans to launch the RLUSD stablecoin in Japan. On the XRP Ledger, RLUSD transactions account for more than 95% of all stablecoin activity. Each RLUSD transfer requires a small amount of XRP for fees, which is permanently burned — a mechanism that ties usage directly to the network's native token.
Full rollout timeline
SBI Shinsei Bank has said the full rollout is expected by autumn 2026. That's likely within the next few months. The pilot has given the bank time to test the voucher system and gauge customer demand. If successful, the program could point toward a wider adoption of crypto-linked banking products in Japan.
