SBI Shinsei to Give Depositors Crypto Vouchers This Fall

SBI Shinsei Bank, the banking arm of SBI Group, will issue vouchers equal to 20% of interest paid on eligible deposits that can be redeemed for bitcoin, ether and XRP. Recipients must open an account on SBI Group’s crypto exchange, SBI VC Trade, before they can convert vouchers into cryptocurrency. A three-month pilot begins June 10, with a nationwide rollout scheduled for this fall.

The pilot covers ordinary savings accounts and time deposits with maturities from three months up to five years. Voucher value will be calculated as 20% of the interest paid on eligible deposits rather than a bonus on the principal. Under the bank’s examples, a 300,000 yen deposit would generate roughly 500 yen in vouchers, while deposits of 30 million yen or more would receive vouchers worth about 20,000 yen.

The program is aimed at linking retail deposit customers to SBI VC Trade and the group’s broader cryptocurrency services. Customers taking part in the pilot will need to complete account registration on SBI VC Trade before redeeming vouchers for the cryptocurrencies offered on the exchange.

SBI Shinsei has not published full details on voucher eligibility, the precise mechanics for converting vouchers into specific tokens, or whether redemption limits will apply beyond the amounts tied to deposit size. The bank expects to release operational details and customer terms ahead of the fall launch.

SBI Group has expanded its crypto and blockchain activities in recent months, including preliminary talks to acquire shares in a domestic crypto exchange, a partnership to develop a blockchain for on-chain stocks, the launch of JPYSC, a trust bank-backed yen stablecoin, and work by securities units on retail crypto investment products.