Japan’s SBI Shinsei to Link Bank Deposits With Crypto Rewards: Nikkei

SBI Shinsei Bank is preparing to launch a new program that links traditional savings with digital assets by offering cryptocurrency exchange vouchers to deposit customers.

According to a Nikkei report, in addition to standard yen-based interest, customers will receive vouchers valued at 20% of their interest payments. These vouchers can then be redeemed for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and XRP, within a specified time frame.

To access and use the vouchers, customers will need to open an account with SBI’s crypto exchange division, SBI VC Trade. The setup effectively connects regular banking services with crypto trading, allowing exposure to digital assets without requiring direct purchases.

Before a full rollout, SBI Shinsei Bank will test the system through a three-month promotional campaign beginning Wednesday. The trial will include both ordinary deposit accounts and fixed-term deposits ranging from three months to five years.

Source: Nikkei