SBI Shinsei Bank to Offer Crypto Vouchers to Depositors

SBI Shinsei Bank will introduce a service that rewards deposit customers with cryptocurrency exchange vouchers tied to their account balances. Nikkei reported that voucher value will equal 20% of customers' interest payments, paid in addition to yen-denominated interest.

The vouchers can be exchanged for Bitcoin (BTC), Ether (ETH) or XRP within a specified period. Redemption will require an account with SBI VC Trade, the group’s crypto exchange arm. The rollout effectively turns a conventional savings product into a crypto on-ramp, exposing mainstream bank customers to digital assets without requiring direct purchases.

Ahead of a permanent launch, the bank plans a three-month campaign covering ordinary deposits and time deposits from three months to five years. The move follows several other initiatives by SBI Group, including the March 18 launch of a retail USDC lending service on SBI VC Trade, which is structured as a loan to the exchange and carries direct counterparty risk.

Japan

sbi shinsei, crypto vouchers, depositors, interest payments, bitcoin, ether, xrp, sbi vc, savings on-ramp, usdc lending