Popular Japanese bank Shinsei Bank is set to start offering customers rewards in $XRP or $BTC as part of a new campaign that is running from August 10 until October 31. Rewards in the campaign can go up to 8,000 Japanese Yen worth around $60 at the time of writing.
These rewards are, according to a local news outlet, set to be distributed to customers who meet specific criteria, including those who open new accounts with the financial institution and those who make specific transactions.
According to reports, opening a new account with Shinsei Bank will award customers with a 500 yen coupon worth around $3.7, while allocating their salaries of 30,000 yen ($225) or more to the bank can see clients gain a coupon of up to 2,500 yen ($18). The coupons are redeemable via email, and can be cashed out in $XRP or $BTC.
A page promoting the campaign reads (roughly translated):
All those who have cleared the campaign participation conditions will receive a crypto asset exchange voucher (equivalent to up to 8,000 yen) that can be exchanged for Bitcoin (BTC) or XRP (XRP) at SBIVC Trade.
The offering comes through a new partnership formed with SBI VC Trade, the cryptocurrency trading platform of Japanese financial services giant SBI. The bank is also running a campaign in which 1,300 customers “who deposit during the campaign period will win a “crypto asset exchange ticket” worth up to 10,000 yen” through a lottery system.
The move comes shortly after Shiba Inu ($SHIB), which is potentially the world’s most popular meme-inspired cryptocurrency, and $XRP, an extremely popular cryptocurrency improving cross-border payments, were added as payment methods at over 60 million merchants worldwide.
Notably, SBI is a well-known XRP supporter, which has given its shareholders the option of receiving $XRP as a benefit for the third year in a row this year, further showing the firm’s support for the embattled cryptocurrency.
As CryptoGlobe reported, SBI launched last year a cryptoasset fund that invests in XRP and four other popular cryptoassets: BTC, ETH, BCH, and LTC. At the time Tomoya Asakura, the President of SBI affiliate Morningstar Japan K.K., revealed the fund would require an investment of at least 1 million yen ($8,400).
Last year, SBI Holdings launched a new cryptocurrency lending service allowing users to earn an annual interest rate of 1% on their bitcoin holdings, with plans to expand the service to ETH and XRP.
In an announcement on the new feature, dubbed ‘VCTrade Lending’ SBI detailed that users will be able to lend a minimum of 0.1 BTC, at press time worth close to $2,400, and a maximum of 5 BTC, at press time worth $120,300.
It also acquired Japanese cryptocurrency exchange TaoTao for an undisclosed amount, after negotiations between TaoTao and Binance to create a strategic partnership fell through for unknown reasons.
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