SBI Shinsei Bank is giving depositors a new way to gain exposure to Bitcoin, Ethereum, and XRP by converting part of their earned interest into crypto reward vouchers.
Key Takeaways
- SBI Shinsei Bank has launched a three month pilot program that rewards depositors with crypto vouchers worth 20% of earned interest.
- Customers can redeem vouchers for Bitcoin (BTC), Ethereum (ETH), or XRP through SBI VC Trade.
- Deposits remain in Japanese yen and continue to be protected by deposit insurance.
- The initiative is part of SBI Holdings’ broader push to connect traditional banking with digital assets.
What Happened?
SBI Shinsei Bank has introduced a new crypto rewards program that allows eligible depositors to receive cryptocurrency vouchers tied to their interest earnings. The pilot begins on June 10 and will run for three months, covering both ordinary savings accounts and fixed term deposits.
The program gives customers exposure to digital assets without requiring them to directly purchase cryptocurrencies. Instead, depositors earn vouchers based on a portion of their interest payments, which can later be redeemed for BTC, ETH, or XRP through SBI Group’s crypto exchange, SBI VC Trade.
🚨JUST IN: ¥2.7T SBI Shinsei Bank to reward depositors with BTC, ETH and XRP based on their balance, Nikkei reports.
— Coin Bureau (@coinbureau) June 9, 2026
In addition to fiat interest, depositors will receive crypto rewards equivalent to 20% of their interest payments. pic.twitter.com/HpxU6tTD3F
SBI Shinsei Connects Traditional Savings With Crypto Rewards
Under the new program, depositors will receive crypto vouchers equivalent to 20% of the interest earned on eligible deposits. The remaining interest will continue to be paid in Japanese yen.
The bank said the initiative applies to a range of deposit products, including ordinary deposits and fixed term deposits with maturities ranging from three months to five years. Customers must maintain an account with SBI VC Trade to redeem the vouchers.
According to reports, the vouchers will be converted into cryptocurrency based on the market price of the selected asset on the day the interest payment is made. This means customers gain crypto exposure without moving their principal deposits out of the traditional banking system.
Importantly, deposited funds remain in yen and continue to benefit from Japan’s deposit insurance framework. Only the interest related reward portion is linked to digital assets.
Pilot Program Targets Millions of Customers
The initiative could reach a large customer base. SBI Shinsei Bank currently serves approximately 4.33 million depositors.
Examples provided by the bank show that a deposit of around ¥300,000 could generate roughly ¥500 worth of crypto vouchers, while balances exceeding ¥30 million could earn approximately ¥20,000 in crypto rewards, in addition to the standard interest paid in yen.
While the actual crypto amounts may be relatively small due to Japan’s low interest rate environment, the program offers a simple entry point for customers interested in digital assets.
Industry observers view the initiative as a practical onboarding tool that lowers barriers for first time crypto users. Rather than requiring customers to purchase cryptocurrencies directly, the rewards are automatically generated through their existing banking relationship.
Part of SBI’s Expanding Crypto Strategy
The launch aligns with SBI Holdings’ ongoing efforts to strengthen its position in the digital asset sector.
In recent months, SBI VC Trade introduced a USDC lending service for retail customers. The group has also continued expanding its XRP related initiatives and has explored additional growth opportunities through exchange consolidation.
Earlier, SBI completed the integration of Bitpoint Japan into SBI VC Trade and disclosed that it was reviewing a potential investment in Bitbank. At the same time, SBI Securities has been preparing crypto focused investment products, including trusts and exchange traded funds tied to major digital assets such as Bitcoin and Ethereum.
The crypto rewards program adds another layer to SBI’s strategy of bringing digital assets closer to mainstream financial services.
Japan Moves Ahead as Global Banks Watch
The pilot also highlights Japan’s relatively supportive regulatory environment for cryptocurrency businesses.
Under Japan’s regulatory framework, licensed crypto exchanges can operate closely alongside traditional financial institutions. This has allowed SBI to integrate its banking and crypto operations through affiliated entities such as SBI VC Trade.
If customer interest remains strong during the trial period, SBI Shinsei is expected to evaluate a broader rollout later this year. A successful launch could provide a blueprint for how traditional banks introduce crypto exposure to everyday savers without changing the core structure of deposit products.
CoinLaw’s Takeaway
In my experience, one of the biggest barriers to crypto adoption has been the complexity involved in buying and managing digital assets. I find SBI Shinsei’s approach particularly interesting because it introduces Bitcoin, Ethereum, and XRP through a familiar banking product that customers already use.
Rather than asking savers to take a major step into crypto, the bank is offering a low risk way to gain exposure through earned interest. If the pilot succeeds, I believe more financial institutions may explore similar models as they look for practical ways to bridge traditional banking and digital assets.
