Japan’s SBI Shinsei Bank is preparing to launch a new service that will reward deposit account holders with cryptocurrency exchange coupons, based on their account balances. According to Nikkei, customers will not only receive interest payments in Japanese yen but will also get a coupon equivalent to 20 percent of their interest earnings. These coupons can be exchanged for Bitcoin (BTC), Ethereum (ETH), or XRP within a designated period.
Coupons redeemable via SBI VC Trade accounts
To utilize these coupons, customers must open an account on SBI VC Trade, the crypto trading platform operated by SBI Group. This move transforms a traditional savings product into a new channel for digital asset exposure, potentially introducing users to cryptocurrencies without requiring direct purchases on their part.
SBI Shinsei Bank is part of the broader Japanese financial conglomerate SBI Holdings, offering both retail and corporate banking services. Meanwhile, SBI VC Trade operates as the group’s licensed cryptocurrency trading platform, connecting depositors to digital asset markets.
It is planned that in addition to yen-based interest, deposit holders will be given a crypto coupon worth 20 percent of their interest income, and these coupons can be converted into BTC, ETH, or XRP within a certain period.
Before making this a permanent feature, the bank will run a three-month campaign starting Wednesday. This initiative covers not only demand deposit accounts but also fixed-term deposits with maturities from three months to five years.
SBI Group steps up crypto initiatives
The deposit-linked coupon model is the latest in a series of moves by SBI Group aimed at broadening cryptocurrency use in Japan. In recent months, the group has introduced interconnected products across deposits, lending, and investment, aiming to offer multiple, regulated access points to digital assets.
On March 18, SBI VC Trade introduced a USDC lending service for retail investors, allowing users to earn yields by lending the stablecoin USDC via fixed-term agreements on the platform. However, this is structured as a direct loan to the exchange, not a bank deposit, meaning users bear the platform’s counterparty risk.
Mini glossary: Counterparty risk is the chance that the other party in a financial transaction fails to meet its obligations. In stablecoin lending, if the platform or institution is unable to pay, this risk passes directly to the user.
SBI Group is working to create regulated pathways into crypto assets through banking, exchange, security products, and stablecoin-focused solutions.
The group is also looking to expand its presence in Japan’s crypto exchange market. On May 1, SBI announced it was considering acquiring a stake in the Bitbank platform, potentially making it a subsidiary. This follows SBI VC Trade’s move to acquire Bitpoint Japan just a month earlier.
Investment funds and ETF plans in development
SBI’s securities arm is also making preparations for investment vehicles linked to digital assets. According to reports, SBI Securities plans to offer clients investment partnerships and exchange-traded funds developed by SBI Global Asset Management, with a focus on assets like BTC and ETH.
These steps show that the group is not limiting its scope to trading services but aims to expand access to digital assets across banking, investment funds, and more. The overall approach signals a comprehensive strategy to grow regulated crypto adoption in Japan’s financial landscape.
