Japan’s SBI Bank Expands Crypto Push With BTC, ETH, XRP Rewards Program For Depositors

The banking arm of Japanese financial giant SBI Holdings is reportedly launching a crypto rewards program for depositors as part of a broader push to expand its digital assets business.

According to local news outlets, depositors will receive exchange vouchers equal to 20% of their deposit interest payments, redeemable for Bitcoin (BTC), Ethereum (ETH), or XRP “within a certain period,” with conversion based on market rates at the time of execution.

While offering digital assets as a permanent deposit product is highly unusual, the program aims to attract new customers to the group’s crypto business, SBI VC Trade, using bank deposits as the entry point.

Notably, the number of individual deposit accounts currently stands at approximately 4.33 million, the reports added, and customers will reportedly be required to open an SBI VC Trade account to exchange their vouchers.

In May, SBI VC Trade, APLUS, and Visa Worldwide Japan introduced the SBI Visa Crypto Card, which converts spending rewards into BTC, ETH, or XRP. The card integrates with SBI Securities’ investment services, enabling automated crypto accumulation tied to monthly investment activity.

SBI Securities, alongside Rakuten Securities, is developing crypto investment trusts for direct sale to individual investors. Meanwhile, SBI has partnered with Startale Group to build a blockchain for tokenized stocks and launched JPYSC, a yen-backed stablecoin.