SBI Shinsei Bank is rolling crypto into traditional savings — offering vouchers convertible to Bitcoin, Ether and XRP
SBI Shinsei Bank will launch a three-month promotion starting Wednesday that tacks crypto rewards onto ordinary and term deposits. Customers will still receive their regular interest paid in yen, but will also get exchange vouchers equal to 20% of the interest earned. Those vouchers can be redeemed for Bitcoin (BTC), Ether (ETH) or XRP during a designated conversion window.
Key details
- Promotion length: three months.
- Eligible products: ordinary deposits and time deposits with maturities from three months to five years.
- Reward structure: regular interest in yen + vouchers worth 20% of the interest earned.
- Redemption requirement: customers must open an account with SBI VC Trade (SBI Group’s crypto exchange) to convert vouchers into BTC, ETH or XRP.
Why it matters
By attaching crypto vouchers to conventional deposit products, SBI Shinsei Bank creates a low-friction on‑ramp for savers to gain exposure to digital assets without directly buying on-market. The move builds on SBI Group’s broader strategy to weave crypto services throughout its financial offerings.
How this fits into SBI Group’s wider crypto push
- Crypto rewards credit card: Earlier this year SBI Group teamed with Visa and Aplus to launch a card that lets users earn Bitcoin, Ether and XRP from everyday spending; card rewards tie into SBI VC Trade.
- USDC lending: On March 18, SBI VC Trade began a retail USDC lending service where users lend stablecoins to the exchange for a fixed period in return for yield. The exchange notes this is structured as a loan to the platform (not a bank deposit), exposing users to counterparty risk.
- Exchange expansion: On May 1 SBI said it was considering buying shares in crypto exchange Bitbank and possibly making it a consolidated subsidiary. This follows SBI VC Trade’s absorption of Bitpoint Japan in April.
- Investment products: Reports indicate SBI Securities plans to offer funds managed by SBI Global Asset Management — including investment trusts and ETFs focused on Bitcoin and Ether.
Bottom line
SBI Shinsei Bank’s voucher program is another example of traditional finance embedding crypto options into mainstream products — making digital-asset exposure easier for bank customers while funneling conversions through SBI VC Trade. Potential users should note the redemption requirement and, where applicable, the counterparty risks highlighted in SBI’s other crypto offerings.
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