Aplus, the credit card service of Shinsei Bank Group, has launched a new function that enables users to exchange points for cryptocurrency. This initiative is implemented in partnership with SBI VC Trade, the crypto unit of SBI Holdings.
New Points Exchange Feature
Aplus users can now exchange their points for Bitcoin, XRP, or Ethereum directly through the online interface. According to crypto commentator Xaif, the exchange rate is set at 2,100 points for approximately 30,000 yen in digital assets, providing users with a way to explore cryptocurrency without making a purchase.
Strengthening XRP's Integration in the Financial System
The inclusion of XRP in the Aplus program highlights its increasing importance in Japan’s financial market. Already utilized for cross-border payments by local banks, XRP's entry into consumer rewards expands its real-world applications.
Challenges and Opportunities of the Program
This program is integrated into the existing credit card system, requiring no additional registration or technical steps, allowing clients to effortlessly redeem cryptocurrency points. However, it also raises questions about market status and consumer perception of cryptocurrencies.
The Aplus program demonstrates an effort to make cryptocurrency more accessible to a broader audience, which could help increase the number of users interested in utilizing digital assets in their everyday lives.
