- SBI Shinsei Bank launches a pilot converting deposit interest into BTC, ETH, or XRP from June 10.
- Customers will receive vouchers worth 20% of their yen deposit interest, redeemable for crypto.
- The bank is expanding retail access to major digital assets via traditional savings products.
Japan’s SBI Shinsei Bank will pilot a service starting June 10 that allows customers to convert part of their deposit interest directly into Bitcoin (BTC), Ethereum (ETH), and XRP vouchers. The bank, part of the SBI Holdings Group and known for prior crypto integration initiatives such as XRP dividends and tokenized deposits, is expanding retail access to major digital assets through traditional savings products.
SBI Shinsei Bank Pilots Crypto Voucher Interest Program
The Bank is launching a three-month pilot program starting June 10, 2026, that allows deposit customers to receive crypto exchange vouchers equivalent to 20% of their yen deposit interest payments. These vouchers can be redeemed for BTC, ETH, or XRP through SBI VC Trade, the bank’s affiliated cryptocurrency exchange.
The initiative is described as an “interest conversion” or crypto rewards program, and aims to give customers easy exposure to digital assets without requiring direct purchases. It builds on SBI’s prior crypto-friendly efforts, such as offering XRP as dividends to shareholders and previous deposit-linked campaigns.
How the Deposit Interest to Crypto Conversion Works
The program does not replace yen interest with crypto; it provides the crypto component on top of normal interest. Vouchers give indirect exposure to crypto price movements without requiring customers to buy assets directly from their own funds.
For example, consider a ¥1,000,000 deposit earning ¥1,650 in annual yen interest based on typical rates for qualifying accounts. The customer receives the full ¥1,650 in yen, plus a crypto voucher worth ¥330, which represents 20% of the interest and can be converted into the chosen cryptocurrency at current market prices upon redemption.
Broader Impact on Japan Crypto Banking Adoption
The pilot targets a broad base as the bank holds approximately ¥14.6 trillion in deposits across 4.33 million accounts and serves as a precursor to a potential full rollout in fall 2026, signaling early-stage scalability for crypto-linked retail banking products in Japan’s regulated financial system.
Meanwhile, Japan’s supportive regulatory environment, including stablecoin frameworks and tax adjustments favoring digital assets, enables this innovation. Even modest participation could generate meaningful new demand for major cryptocurrencies from retail customers who have traditionally remained within conventional banking and savings products.
Furthermore, SBI’s retail interest-to-crypto model complements megabanks’ institutional stablecoin initiatives, accelerating regulated crypto adoption across consumer and corporate segments. If successful, it could spur broader participation, advance RWA tokenization trends, and strengthen Japan’s position in global compliant crypto banking innovation.
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