SBI Shinsei Bank Launches Crypto Voucher Rewards Program for Japanese Depositors

SBI Shinsei Bank launches a three-month pilot program on June 10, 2026, allowing its 4.33 million depositors to receive vouchers worth 20% of their interest payments, redeemable for Bitcoin, Ethereum, and XRP through affiliated exchange SBI VC Trade. Customers keep principal in yen while earning standard interest plus cryptocurrency vouchers. The program covers ordinary and time deposits and may become permanent if demand justifies continuation.

Crypto voucher rewards program

• ▪SBI Shinsei Bank intends to make the crypto voucher service permanent if demand is justified
• ▪SBI Shinsei Bank is launching a program that gives customers vouchers redeemable for cryptocurrency after they complete deposits starting June 10, 2026
• ▪SBI Shinsei Bank plans to run an initial three-month pilot covering both ordinary and time deposits
• ▪SBI Shinsei Bank's crypto voucher program offers vouchers worth 20% of the interest earned on specific eligible accounts

Deposit account eligibility requirements

• ▪A total of almost 4.33 million deposit accounts at SBI Shinsei Bank are eligible and could qualify for the crypto voucher program
• ▪Participation in SBI Shinsei Bank's crypto voucher program requires a linked account at SBI VC Trade

Voucher redemption mechanics

• ▪SBI Shinsei Bank will issue a voucher pegged to one-fifth of the interest payment, converted at the market price of the particular cryptocurrency being disbursed on the day interest is paid
• ▪Customers can redeem SBI Shinsei Bank vouchers for Bitcoin (BTC), Ether (ETH) or Ripple (XRP) through SBI VC Trade
• ▪SBI Shinsei Bank's top-tier Hyper Deposit rate sits around 0.42% annually
• ▪SBI Shinsei Bank customers will keep their principal in yen in the bank and continue to collect standard interest on these savings

SBI Holdings digital asset strategy

• ▪SBI said in May 2026 that SBI was exploring buying some shares in trading platform Bitbank
• ▪SBI acquired institutional market maker B2C2 in 2020
• ▪SBI has operated in the crypto mining business through SBI Crypto since 2017
• ▪SBI VC Trade acquired rival exchange Bitpoint Japan in April 2026
• ▪SBI Holdings issued a digital bond aimed at retail investors in March 2026 that paid XRP tokens as a bonus through SBI VC Trade accounts
• ▪Aplus, a subsidiary of SBI Shinsei Bank, began issuing Visa cards in May 2026 that accumulate cryptocurrency rewards
• ▪SBI VC Trade launched a retail USDC lending product in March 2026, structured as a fixed-term loan to the exchange rather than a traditional bank deposit

Japanese cryptocurrency regulation framework

• ▪Japan regulates crypto under its Payment Services Act, with the Financial Services Agency licensing exchanges directly

U.S. banking regulatory constraints

• ▪The GENIUS Act, signed into law in July 2025, stops stablecoin issuers from paying yield to their holders
• ▪The Treasury Borrowing Advisory Committee estimated that about $6.6 trillion in U.S. transactional deposits could face pressure if crypto products offered competitive returns

Perspective of U.S. banks and financial institutions

• ▪The Treasury Borrowing Advisory Committee estimated that about $6.6 trillion in U.S. transactional deposits could face pressure if crypto products offered competitive returns