Shinsei Bank, a ¥10 trillion Japanese banking giant, is integrating Bitcoin into its credit card rewards program, marking a significant shift as Japan, traditionally cautious with cryptocurrencies, sees growing institutional adoption, with over 20% of Japanese firms holding crypto assets according to a 2023 Bank of Japan survey.
This move aligns with a broader trend of traditional finance embracing crypto, evidenced by Nomura’s 2023 Bitcoin Adoption Fund and BlackRock’s 55% surge in Bitcoin holdings to 700,000 BTC by July 2025, suggesting a potential redefinition of financial trust toward decentralized systems.The initiative, potentially linked to SBI Shinsei Bank’s partnership with Aplus for crypto rewards (announced July 2024), could signal a competitive edge in Japan’s financial sector, though its success hinges on regulatory clarity and consumer uptake, areas still under scrutiny by the Financial Services Agency.
