Japanese SBI bank allows you to exchange credit card points for Bitcoin, ETH and XRP

By Hannah Pérez

The Japan Giant SBI announced the integration of cryptocurrencies into the APLUS credit card points program. Users can change up to almost USD $ 14 for Bitcoin, Ether or XRP.

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• The Japanese financial giant SBI integrates cryptocurrencies to a loyalty program.
• Customers will be able to change their CRAMCUS card points APLUS for BTC, ETH or XRP.
• Although the exchangeable amount is small, it marks an innovative step for the bank.

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SBI Holdingsthe giant financial conglomerate based in Tokyo, Japan, is testing the exchanges of credit tarjeras by cryptocurrency as part of a new initiative that would allow its customers to expose themselves to the emerging class of assets.

In a notification on Tuesday, the Japanese Bank reported that it is incorporating cryptocurrencies as rewards mechanisms for Aplaus credit card users, the Financial Services Company specialized in consumer credit that is part of the ecosystem SBI. News media as COINDESK and Beincypto They reported first.

The initiative allows customers to SBI change small amounts of their APLUS POINTS by Bitcoin (BTC), Ethereum (ETH) or XRP.

The reward points are accumulated by the users of the APLUS credit cards through their usual expenses. The loyalty program APLUS POINTS It allows holders to redeem points for a variety of benefits, from physical products to digital services. Now, in a significant innovation, these points can be exchanged for cryptocurrencies.

In particular, Customers will be able to exchange 2,100 APLUS points per BTC, ETH or XRP worth up to 2,000 yen (approximately USD $ 13.66). The function is optional and is available only for cards that qualify under the points program.

Those who opt for this option will see their cryptocurrencies deposited directly in their account VC Tradethe digital asset exchange platform operated by SBI Holdings.

SBI and APLUS points program integrates cryptocurrencies

Development marks a signal on the key role that traditional banks and financial institutions are assuming in the tendency to adopt cryptocurrencies around the world.

While the amount available to exchange –currently less than USD $ 15– It is relatively small, marks the first time that a cryptocurrency is added to the APLUS awards catalog, which previously focused on reimbursements and rewards for partners, as noted COINDESK. It can also reflect the wider pro-descriptomoned feeling among Japanese corporations.

SBI Holdingsfounded in 1999, one of the main financial institutions in Japan, with banking businesses, insurance and values, has long maintained a significant approach to emerging technologies such as Blockchain and cryptocurrencies. The bank has supported Ripple For years and XRP was the first token included in VC Trade when it was launched in 2018.

Although the scale of the reward points experiment is still limited, a positive reception by users could open the doors to other credit card programs, –from or beyond SBI–also integrate cryptocurrencies.

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Hannah Estefanía Pérez / Diariobitcoin

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