Aplus's rewards system in Japan has expanded its capabilities by introducing a feature to swap bonus points for cryptocurrency, including XRP, Bitcoin, and Ether.
Conversion of Bonus Points to Cryptocurrency
As of this week, Aplus customers can exchange their bonus points for cryptocurrency. This makes Aplus the first major rewards system in Japan to offer direct swaps for cryptocurrencies rather than just cash, merchandise, or airline miles.
How the New Feature Works
Users can trade in 2,100 points for over ¥2,000 worth of cryptocurrency, roughly $13-$15 USD depending on the exchange rate. To use this feature, all users need are points and an account with SBI VC Trade or access to the Aplus portal. It requires no technical knowledge, making it easier to enter the crypto world.
User Perspectives and Questions
The new option does not change the existing bonus earning conditions. Customers still earn points for everyday spending. However, questions remain regarding whether users can redeem crypto monthly and if there are limits, which could affect user interest in the system. Furthermore, users will need to comply with the country's tax regulations regarding cryptocurrency and must ensure the security of their assets independently.
Aplus's new initiative could make cryptocurrency more accessible to Japanese users who previously lacked experience with digital assets. However, clarity in the program's rules will be a key factor in determining its successful implementation.
