TLDR
- SBI Shinsei Bank will issue crypto vouchers equal to 20% of earned interest.
- Customers can redeem vouchers for BTC, ETH, or XRP through SBI VC Trade.
- The initial campaign will run for three months, covering various deposit terms.
- Depositors must open an SBI VC Trade account to access crypto rewards.
- SBI Group continues expanding crypto services across lending and securities units.
SBI Shinsei Bank will begin offering cryptocurrency exchange vouchers to eligible deposit customers under a new campaign. The bank will issue vouchers equal to 20% of accrued interest payments alongside standard yen interest. Customers can redeem the vouchers for Bitcoin, Ether, or XRP through SBI VC Trade within a fixed period.
The program will start with a three-month campaign covering ordinary and time deposits. Deposit terms will range from three months to five years under the initial rollout. The bank will require customers to hold an account with SBI VC Trade to redeem rewards.
SBI Shinsei Bank Links Deposits to BTC, ETH, and XRP
SBI Shinsei Bank will convert part of the deposit interest into digital asset vouchers. The vouchers will equal 20% of the interest earned during the campaign period. Customers will still receive the remaining interest in yen.
The vouchers will allow exchanges for BTC, ETH, or XRP on SBI VC Trade. Customers must open an account with the exchange arm before redemption. The bank will set a defined window for voucher use after issuance.
Nikkei reported that the service will act as a crypto entry channel for depositors. The structure will not require customers to purchase digital assets directly. Instead, deposit balances will determine the size of issued vouchers.
The campaign will apply to both ordinary deposits and fixed-term products. Terms will include periods from three months to five years. The bank will launch the campaign on Wednesday before a permanent rollout decision.
SBI Expands Crypto Products Across Lending and Securities
SBI Group has expanded crypto-related services across its subsidiaries. On March 18, SBI VC Trade introduced a retail USDC lending program. The product will allow users to lend USDC to the exchange under fixed-term agreements.
The company structured the USDC service as a loan to the exchange. Therefore, users will assume direct counterparty exposure during the lending period. Returns will depend on the agreed fixed-term conditions.
On May 1, SBI Group said it was reviewing a potential stake acquisition in Bitbank. The group also completed the absorption of Bitpoint Japan into SBI VC Trade earlier. These moves will consolidate exchange operations under SBI’s structure.
SBI Securities has also prepared crypto-focused investment funds for distribution. The securities unit plans to sell trusts and ETFs developed by SBI Global Asset Management. These products will focus on crypto assets such as BTC and ETH.
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