SBI Shinsei to let savers convert interest into BTC, ETH, XRP

SBI Shinsei Bank will begin a trial on June 10 that lets depositors convert up to 20% of the interest they earn on yen deposits into vouchers for Bitcoin, Ethereum or XRP. The principal will remain in yen and continue to be covered by deposit insurance. The conversion applies only to the interest portion of payouts.

Each interest payment can be split so that up to one-fifth is converted into a voucher for BTC, ETH or XRP at the market price on the day the interest is paid. Customers must hold a linked account at SBI VC Trade, the group’s licensed cryptocurrency exchange, to redeem vouchers into tokens. The bank will not tokenize the deposits; they will remain on its balance sheet as yen deposits.

The pilot’s crypto amounts are likely to be small. SBI Shinsei’s Hyper Deposit product currently pays about 0.42% a year, so converting 20% of that interest will buy only a modest amount of cryptocurrency. The feature is offered as a way for customers to gain limited exposure to major tokens rather than as an alternative to traditional yield.

Voucher redemptions will be processed through SBI VC Trade. SBI Holdings has a longstanding relationship with Ripple, which is reflected in XRP’s inclusion alongside Bitcoin and Ethereum. The bank has also tested other crypto-linked services, including crypto-backed credit card rewards and a tokenized yen deposit network connected to JPMorgan. SBI Shinsei says it may roll the voucher option out permanently later in the year if customer demand warrants.

Japan’s Payment Services Act requires cryptocurrency exchanges to be licensed by regulators. That framework allows a bank to work with an affiliated, regulated exchange to offer crypto-linked options while keeping deposits subject to standard banking rules and deposit insurance.

The trial in Tokyo contrasts with recent policy developments in the United States. The GENIUS Act, enacted in July 2025, bars stablecoin issuers from paying yield to holders. A Senate draft of the Clarity Act would prohibit service providers and their affiliates from offering deposit-like yields on stablecoins while allowing rewards tied to genuine customer activity. A White House analysis published in April 2026 estimated a ban on certain crypto yields would shift about $2 billion in bank lending.

SBI Shinsei will monitor how many customers opt into the voucher option and how frequently vouchers are redeemed. The bank plans to use that data to decide whether to make the program a permanent offering later in the year.