Japan’s SBI Shinsei Bank is taking another step toward crypto adoption as it is set to launch rewards in XRP, Bitcoin, and Ethereum.
SBI Shinsei Bank will begin a three-month pilot program that integrates digital assets into everyday banking services. From June 10, it will allow eligible depositors to receive crypto rewards alongside the interest generated from traditional savings products.
The initiative covers ordinary savings accounts as well as time deposits with maturities ranging from three months to five years. If the trial proceeds as planned, SBI Shinsei intends to make the feature a permanent part of selected deposit products later this year.
SBI to Offer Digital Asset Rewards to Depositors
According to a report from Nikkei, customers will continue receiving standard interest payments in Japanese yen under the pilot program. In addition, they will receive exchange vouchers valued at 20% of the interest earned on their deposits.
Customers can redeem those vouchers through SBI VC Trade, the group’s regulated digital asset platform. Customers will have the option to convert the vouchers into XRP, Ethereum (ETH), or Bitcoin (BTC) based on the market price at the time of redemption.
Participation requires an SBI VC Trade account, meaning customers must complete the platform’s identity verification process before claiming rewards. The vouchers will also be subject to a designated redemption period after issuance.
Notably, the report noted that the rewards are relatively modest for smaller account balances. A ¥300,000 deposit will get a ¥500 reward. It gets better for a larger deposit. For instance, a ¥30 million deposit will yield around ¥20,000 redeemable in XRP, BTC, and ETH.
The aim of the program is simply to offer exposure to digital assets without requiring customers to purchase them directly. For more conservative savers, this approach may provide a lower-friction introduction to the sector while allowing them to maintain traditional deposit accounts.
Part of a Much Larger Crypto Strategy
Interestingly, this is one of many initiatives from SBI Holdings to push crypto adoption in Japan. The prominent firm has spent years building one of the most comprehensive digital asset ecosystems in the country.
Beyond operating SBI VC Trade, the company has expanded into investment products, custody services, stablecoin initiatives, and tokenized asset projects. In May, the group also introduced a crypto-linked Visa card that automatically converts accumulated reward points into digital assets such as XRP, Ether, or Bitcoin.
Its flagship deposit product, SBI Hyper Deposit, had already accumulated more than ¥1.3 trillion in balances by March 2026, underscoring the scale of the banking operation supporting these initiatives.
SBI has previously used promotional campaigns tied to deposits and account openings to distribute digital asset rewards. The latest program differs because it incorporates crypto benefits directly into recurring interest payments rather than limiting them to short-term marketing offers.
Beyond just products, SBI has also made notable moves in the crypto space. In May, SBI CEO Yoshitaka Kitao revealed preliminary talks to acquire the largest crypto exchange in Japan, Bitbank.