SBI Shinsei Bank to pilot deposit interest conversion into Bitcoin, Ether or XRP on June 10

The Japan lender will let customers direct part of their deposit interest into three crypto assets, testing a bridge between traditional bank savings and digital tokens.

Summary

SBI Shinsei Bank is set to begin a pilot on June 10 that will allow customers to convert a portion of their deposit interest into Bitcoin, Ether or XRP. The move links a conventional bank product with direct exposure to digital assets, offering customers a way to channel savings returns into crypto without making a separate purchase.

Terms & Concepts
  • XRP: A digital token used in the XRP Ledger ecosystem.