SBI Holdings Unit to Offer Crypto Rewards with Traditional Interest Payments

SBI Shinsei Bank, a subsidiary of SBI Holdings, is preparing to launch a unique deposit program this fall that combines traditional interest payments with cryptocurrency rewards.

The program, aimed at introducing more customers to the group's crypto business, will allow depositors to earn regular interest on their balances while also receiving crypto exchange vouchers worth 20% of their interest income.

These vouchers can be redeemed for Bitcoin, Ethereum, or XRP during a designated redemption period. The final amount of cryptocurrency awarded will depend on prevailing market prices at the time of redemption.