tl;dr
Aplus, a credit card company under Shinsei Bank Group, has partnered with SBI VC Trade, SBI Holdings' cryptocurrency exchange, to allow Aplus Points to be redeemed for cryptocurrencies like XRP, Bitcoin, and Ethereum. Cardholders earn points based on spending and can now convert 2,100 points into 2,...
Aplus, a credit card and financial services company under the Shinsei Bank Group, has partnered with SBI VC Trade, the cryptocurrency exchange arm of Japanese financial giant SBI Holdings, to introduce cryptocurrencies as new reward redemption options for Aplus Points.
Aplus credit card holders can now exchange their accumulated points for popular cryptocurrencies, including XRP, Bitcoin, and Ethereum. These points are earned based on card spending, where every ¥200 spent results in 1 Aplus Point, equivalent to ¥1. Additionally, monthly spending over ¥50,000 qualifies users for a 0.5% bonus on points earned. Previously, points could be redeemed for physical items, cash, partner program transfers, or converted into airline miles at a rate of 1,000 Aplus Points to ANA miles.
Cardholders can redeem 2,100 Aplus Points for 2,000 JPY worth of XRP, BTC, or ETH, expanding the use-cases for accumulated rewards. Notably, XRP’s inclusion reflects SBI Group’s longstanding partnership with Ripple, as the token was the only cryptocurrency available on SBI VC Trade at its 2018 launch. Recently, SBI VC Trade incorporated XRP lending, and SBI Holdings has also launched an NFT project on the XRP Ledger, further deepening the link between SBI and the XRP ecosystem.
This move illustrates the growing integration between traditional financial services and the cryptocurrency market in Japan, offering consumers more diverse ways to leverage loyalty rewards in the digital asset space. The partnership signals a broader trend of financial institutions embracing cryptocurrencies as mainstream financial tools rather than niche investments.