Japan’s SBI Bank Turns Savings Interest Into Bitcoin, XRP, and Ethereum Rewards

Japan’s banking sector is taking another step toward crypto adoption. SBI Shinsei Bank will launch a pilot program on June 10 that allows customers to convert part of their deposit interest into Bitcoin (BTC), Ethereum (ETH), or XRP. 

If successful, the program is expected to become a permanent offering this fall, giving traditional savers a new way to gain crypto exposure without directly buying digital assets.

SBI Wants Bank Depositors to Take BTC, ETH, XRP Instead of Bank Interest

Under the program, customers will receive crypto exchange vouchers worth 20% of their deposit interest payments. Those vouchers can later be redeemed for BTC, ETH, or XRP through SBI VC Trade, the crypto exchange operated by SBI Group.

The initiative is designed to bridge traditional banking and digital assets, allowing customers to earn crypto through their existing savings accounts rather than purchasing tokens directly from an exchange.

To participate, customers must open an SBI VC Trade account before redeeming the rewards.

How Much Crypto Can Users Earn?

The three-month pilot will cover ordinary savings accounts as well as fixed-term deposits ranging from three months to five years.

According to local reports, a customer holding 300,000 yen (approximately $1,870) in deposits would receive about 500 yen ($3) worth of crypto vouchers. 

For larger depositors with 30 million yen ($187,000) or more, the rewards could reach around 20,000 yen ($125).

While the rewards are relatively small, the program gives customers direct exposure to Bitcoin, Ethereum, and XRP without requiring them to actively invest in the crypto market.

SBI Is Expanding Its Crypto Ecosystem

The rewards program is part of a wider digital asset push by SBI Group. Last month, SBI Chairman Yoshitaka Kitao revealed that SBI Holdings had entered preliminary discussions to acquire a stake in Bitbank, one of Japan’s largest crypto exchanges. 

Earlier this year, SBI partnered with Startale Group to develop a blockchain designed for tokenized stocks and introduced JPYSC, a Japanese yen-backed stablecoin.

Meanwhile, SBI Securities and Rakuten Securities are reportedly developing crypto investment trusts aimed at retail investors.

Will Other Banks Follow if the Pilot Succeeds?

The June 10 pilot will serve as a test for whether traditional banking customers are willing to receive part of their savings returns in cryptocurrency.

If adoption proves strong, SBI Shinsei Bank plans to make the program permanent this fall.