Japanese SBI Shinsei Bank to give crypto vouchers to depositors
Japan’s SBI Shinsei Bank plans to launch a service that will allow customers to receive cryptocurrency vouchers based on their account balances. The vouchers will be exchangeable for Bitcoin, Ethereum or XRP.
According to Nikkei, depositors will receive vouchers worth the equivalent of 20% of their accrued interest. These bonuses will be added on top of regular interest payments in yen.
To use the vouchers, customers will need to open an account on SBI VC Trade, the cryptocurrency platform that is part of SBI Group.
This format effectively turns a traditional savings product into a gateway to cryptocurrencies. Bank customers will not have to buy digital assets directly, but they will still be able to gain exposure to them through a bonus program.
Ahead of the permanent launch, SBI Shinsei will reportedly run a three-month campaign starting Wednesday. It will cover ordinary deposits and fixed-term deposits ranging from three months to five years.
SBI’s cryptocurrency strategy
The new crypto voucher service is part of SBI Group’s broader strategy in digital assets.
On March 18, SBI VC Trade launched a retail USDC lending service. It allows users to lend the stablecoin to the platform for a fixed term and earn returns. However, the product is structured as a loan to a crypto exchange rather than a bank deposit, meaning users take on direct counterparty risk.
SBI is also strengthening its position in Japan’s crypto exchange market. On May 1, the group said it was considering acquiring a stake in the trading platform Bitbank and making it a consolidated subsidiary. A month earlier, SBI VC Trade had absorbed Bitpoint Japan.
In addition, the group’s securities division is preparing crypto investment products. According to media reports, SBI Securities plans to sell funds developed by SBI Global Asset Management, including investment trusts and exchange-traded funds (ETFs) focused on crypto assets such as BTC and ETH.
Why the bank is adopting cryptocurrencies
For a bank, cryptocurrency products are a way to retain customers who are already interested in digital assets but do not want to fully move to crypto exchanges. Vouchers for BTC, ETH or XRP allow users to get their first exposure to cryptocurrencies without making a direct purchase or sharply changing their usual banking experience. Customers still keep their money in yen deposits and receive regular interest, but they can also try digital assets through SBI’s infrastructure.
For SBI, this is also a way to connect different parts of its own business. The bank attracts depositors, SBI VC Trade gains new users, and the group as a whole strengthens its position in the digital asset market. This approach is especially important in Japan, where cryptocurrencies are increasingly entering regulated financial services, from exchange products and funds to stablecoin lending and bonus programs for ordinary banking customers.
As a reminder, Circle and SBI Holdings have joined forces to expand the use of USDC in Japan.
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