SBI Shinsei Bank, the Japanese lender, launched a program this week that lets depositors earn rewards in Bitcoin, Ether, and XRP. The vouchers are delivered through SBI VC Trade, the bank's affiliate crypto exchange. It's a bid to pull in deposits while pushing users into the bank's own crypto ecosystem.
How the program works
Under the plan, customers who hold deposit accounts at SBI Shinsei Bank can opt into the voucher scheme. The value of the crypto awards is tied to the size of the deposit. SBI VC Trade handles the actual distribution. The bank didn't disclose the exact reward tiers or minimum deposit thresholds.
Japanese banks have been cautious about direct crypto exposure. SBI Shinsei is leaning in, using its existing relationship with SBI VC Trade to offer a tangible crypto incentive. It's not quite a deposit yield — customers aren't earning interest in crypto — but it's a loyalty program dressed in digital assets. That could appeal to retail savers who've watched Bitcoin's run over the past year.
SBI's broader crypto play
SBI Holdings, the parent company, has been one of Japan's most aggressive crypto backers. SBI VC Trade is a licensed exchange, and the group has stakes in Ripple, the firm behind XRP. The choice to include XRP — alongside Bitcoin and Ether — fits that pattern. This voucher program ties retail deposits directly to the group's trading platform, potentially steering new users toward SBI VC Trade's wallet and trading services.
The program is live as of this week. No word yet on whether other Japanese banks will follow. For now, SBI Shinsei is the only major bank in the country offering crypto voucher rewards to depositors.
