Key Information:
- Japanese credit card holders can now exchange loyalty points for cryptocurrencies through SBI VC Trade and APLUS.
- Card users can redeem points for Bitcoin, Ether, or XRP, with 2,100 points equating to over 2,000 Japanese yen worth of tokens.
- This new initiative signifies the first instance of cryptocurrency being included in the APLUS prize catalog, indicating Japan’s robust regulatory compliance in the crypto sector.
Credit card users in Japan are now able to convert their loyalty points into cryptocurrencies. SBI Group’s APLUS has launched a service that allows cardholders to redeem APLUS points for small amounts of Bitcoin, Ether, and XRP. By accumulating 2,100 points, users can receive tokens worth over 2,000 yen, approximately $13 based on current exchange rates. The cryptocurrencies are managed by SBI’s exchange subsidiary and directly deposited into the users’ VC Trade account.
This feature is optional and available solely for cards that meet the APLUS Points program criteria. While it represents a relatively modest sum, it marks the integration of cryptocurrency into APLUS’s prize offerings, which has previously been limited to cashbacks and partner rewards. For SBI, this is a risk-free method to enhance user interaction without encouraging speculative trading. Notably, SBI has been a long-time supporter of Ripple, with XRP being the first token listed on VC Trade when it commenced operations in 2018.
The integration is significant in the context of Japan’s strictly regulated cryptocurrency market, highlighting a level of compliance maturity that many regions have yet to achieve and enabling everyday card users to experience cryptocurrency without aggressive marketing.
