SBI Shinsei to let savers redeem 20% of interest as crypto

SBI Shinsei Bank will allow depositors to receive exchange vouchers equal to 20% of their interest payments that can be exchanged for bitcoin (BTC), ether (ETH) or XRP in a three-month pilot that begins June 10, 2026. The offer covers ordinary savings accounts and time deposits with terms from three months to five years.

Eligible accounts will continue to earn standard yen-denominated interest. In addition, the bank will issue vouchers valued at 20% of the interest earned. Customers must hold or open an account at SBI VC Trade, the group’s licensed crypto exchange, and complete standard identity checks. Vouchers must be redeemed for BTC, ETH or XRP through SBI VC Trade within a designated redemption window at the prevailing market price.

For small deposits the voucher amounts are modest: a ¥300,000 deposit would generate roughly ¥500 in vouchers, while a ¥30 million deposit could yield about ¥20,000 in voucher value. The vouchers provide a way for depositors to gain optional exposure to selected digital assets without purchasing them directly on an exchange.

The pilot will run for three months from June 10. The SBI Group plans to make the program a permanent feature for eligible deposit accounts in the fall of 2026 if the pilot meets the group’s internal targets. The bank has not published a formal press release. Full terms and operational details are expected on the bank’s website and on SBI VC Trade when the pilot begins.

The pilot is part of a wider set of digital-asset services offered by the SBI Group. SBI VC Trade handles spot trading and services such as USDC lending. SBI Securities offers crypto investment trusts and funds. The group recently launched a Visa card that converts card rewards into BTC, ETH or XRP. The bank’s Hyper Deposit product held more than ¥1.3 trillion in balances by March 2026. SBI Shinsei has previously run one-off promotions that tied crypto or vouchers to new accounts and fixed deposits; this pilot embeds crypto rewards into recurring interest payments.

Practical and regulatory points for depositors include price risk between voucher issuance and redemption, distinct tax treatment of yen interest and crypto proceeds, and deposit insurance limits. Yen interest remains covered under standard deposit insurance; the crypto vouchers are not covered. Interest income in yen is taxable in Japan, and receiving crypto vouchers may create capital gains or other tax events when the tokens are converted or sold.

Japan licenses crypto exchanges and has rules on stablecoins and tokenized assets. The SBI Group has explored tokenized deposits through projects such as DCJPY and prepared stablecoin initiatives via related entities. The pilot fits with ongoing efforts by Japanese financial firms to provide digital-asset options through traditional banking products.