SBI Shinsei Ties Bank Deposits to Crypto Incentives in Japan: Report

SBI plans to distribute vouchers that customers can exchange for Bitcoin, Ether, or XRP through SBI VC Trade, creating a direct connection between the bank’s savings products and its cryptocurrency trading platform.

SBI Shinsei Bank is reportedly preparing to introduce a program that grants cryptocurrency exchange vouchers to depositors, with rewards determined by the balances maintained in their accounts.

According to a Nikkei report, customers will be awarded vouchers worth 20% of their earned interest, while continuing to receive their regular interest payments in yen. Those vouchers can then be redeemed for Bitcoin (BTC), Ether (ETH), or XRP during a designated redemption period.

Customers will be required to open an account with SBI VC Trade, the company’s cryptocurrency exchange subsidiary, in order to redeem and use the vouchers.

The initiative transforms a traditional savings account into a gateway for cryptocurrency exposure, allowing mainstream banking customers to gain access to digital assets without having to purchase them directly.

Before introducing the service on a permanent basis, SBI Shinsei is reportedly set to conduct a three-month promotional campaign beginning Wednesday, covering both standard savings accounts and fixed-term deposits with maturities ranging from three months to five years.

SBI Deepens Crypto Expansion Across Banking, Lending and Investment Services

The deposit-linked voucher program marks the latest in a series of cryptocurrency initiatives undertaken by SBI Group as the financial giant positions itself for wider digital asset adoption across Japan.

On March 18, SBI VC Trade introduced a USDC lending program for retail customers, enabling participants to lend the stablecoin to the platform through fixed-term contracts in return for yield. The offering operates as a loan arrangement with the exchange rather than a traditional bank deposit, leaving users exposed to direct counterparty risk.

SBI has continued to strengthen its presence in Japan’s cryptocurrency exchange sector. On May 1, the company disclosed that it was evaluating the purchase of a stake in Bitbank with the aim of turning the platform into a consolidated subsidiary, just one month after Bitpoint Japan was integrated into SBI VC Trade.

SBI’s brokerage division is also moving ahead with digital asset investment offerings. Reports indicate that SBI Securities intends to distribute funds created by SBI Global Asset Management, including investment trusts and exchange-traded funds (ETFs) that provide exposure to cryptocurrencies such as BTC and ETH.

These initiatives highlight the group’s effort to establish multiple regulated pathways into the crypto market, spanning banking products, exchange operations, securities offerings, and stablecoin lending services.