SBI Group Launches XRP, BTC, and ETH Deposit Rewards in Japan, Accelerating Mainstream Crypto Adoption
SBI Group has introduced a significant new initiative enabling customers of its SBI Shinsei Bank to earn Bitcoin (BTC), Ethereum (ETH), and XRP as rewards on standard yen deposits—a move aimed at mainstreaming digital asset exposure through everyday banking activity.
SBI Shinsei Bank began offering crypto-based deposit rewards on June 10, allowing holders of both ordinary and time deposits in yen to receive vouchers equivalent to 20% of their accrued interest, redeemable for BTC, ETH, or XRP via SBI VC Trade, the group’s licensed cryptocurrency exchange. Though initially introduced as a limited three-month campaign, the bank intends to expand the program nationwide by fall.
Crucially, these crypto vouchers complement—not replace—traditional yen interest. For instance, a ¥500,000 deposit earning ¥825 in annual interest would qualify for a ¥165 voucher, convertible into cryptocurrency at the customer’s discretion. The initiative grants millions of retail and institutional clients seamless, low-risk exposure to digital assets without requiring active trading or additional capital outlay.
With approximately 4.33 million banking accounts eligible—and up to 54.42 million total SBI Group customers—the rollout has the potential to significantly accelerate Japan’s crypto adoption. The program effectively transforms conventional savings into a frictionless gateway to digital finance, aligning passive wealth accumulation with tokenized asset ownership.
The integration of XRP carries particular strategic significance, reflecting SBI Group’s long-standing involvement with the cryptocurrency. Since partnering with Ripple in 2016, SBI has co-founded SBI Ripple Asia to develop enterprise-grade blockchain solutions across Japan, South Korea, and Southeast Asia—leveraging the XRP Ledger’s (XRPL) native DEX, fast settlement, and ultra-low fees (as low as $0.000012 per transaction). This infrastructure delivers near-real-time cross-border payments, contrasted sharply with SWIFT’s multi-day timelines and $10–$50 per-transaction costs, including hidden intermediary charges.
SBI further cemented its commitment to XRP over recent years by launching Japan’s first bank-backed crypto exchange (SBI VC Trade) in 2018 and enabling XRP-enabled remittances through SBI Remit to the Philippines, Vietnam, and Indonesia in 2021. The group operates a validator node on the XRP Ledger and maintains strategic exposure via an estimated 9% equity stake in Ripple and a $200 million commitment to Evernorth’s XRP-focused digital asset treasury.
SBI clarified in public statements that it does not hold $10 billion in XRP outright, as previously rumored, but retains indirect exposure through its equity stakes in Ripple and Evernorth. Despite market volatility, its continued investment has yielded substantial returns, with Ripple valued between $40–$50 billion across independent private-market valuations.
Japan remains one of the world’s most supportive jurisdictions for digital assets—ranking 19th on Chainalysis’ 2025 Global Crypto Adoption Index and consistently in the top 20 for years. Supportive regulatory momentum is building as Japan’s House of Representatives deliberates reforms to impose a flat 20% crypto tax rate (down from 55%), introduce crypto ETFs, and harmonize digital asset regulations with traditional securities frameworks.
These developments signal a pivotal step toward broader financial inclusion and digital asset mainstreaming, with SBI’s deposit reward program serving as a scalable, consumer-friendly model that other Japanese institutions—including Mizuho Financial Group—appear poised to emulate.