SBI Shinsei Bank is set to introduce a novel banking feature that provides customers with cryptocurrency vouchers alongside traditional interest payments on their deposits. According to a report, depositors will receive vouchers equivalent to 20% of their interest earned, which can be converted into popular digital assets like Bitcoin (BTC), Ether (ETH), or XRP within a designated timeframe.
To redeem these vouchers, customers must open an account with SBI’s crypto exchange division, SBI VC Trade, creating a seamless link between conventional banking and cryptocurrency investment. This strategy transforms ordinary deposit accounts into gateways for users to gain exposure to digital assets without making direct purchases themselves.
The bank will initially pilot this service through a three-month campaign targeting both regular deposits and time deposits with durations ranging from three months to five years.
This initiative builds on SBI Group’s broader efforts to expand its crypto footprint across various financial products. Recently, SBI VC Trade launched a USDC stablecoin lending service where users can lend stablecoins to the platform under fixed terms for returns, although this arrangement involves direct counterparty risk to the exchange rather than a protected bank deposit.
Additionally, SBI is actively consolidating its position in Japan’s crypto exchange market. It absorbed Bitpoint Japan into SBI VC Trade and is considering acquiring shares in Bitbank to make it a consolidated subsidiary, enhancing its presence among key local players.
The group’s securities arm is also preparing to introduce crypto-focused investment products, including mutual funds and exchange-traded funds (ETFs) centered on Bitcoin and Ether, developed in partnership with SBI Global Asset Management.
Collectively, these moves illustrate SBI Group’s strategy to create multiple regulated access points for cryptocurrency exposure. These cover traditional bank deposits enhanced with crypto rewards, exchange-based lending products, and investment funds, all within a compliant framework designed for the Japanese market.