Sony Bank Applies for U.S. Charter to Launch Stablecoins and Offer Crypto Asset Services

• Sony Bank applies for a national charter to launch stablecoin and digital asset services in the United States.
• The stablecoin market is growing rapidly, and Sony plans to enter as new rules create clear paths for crypto banks.
• Connectia Trust will manage stablecoin reserves and provide digital asset custody services under Sony’s banking division.

Sony Bank has applied for a national banking charter through the Office of the Comptroller of the Currency (OCC). The move aims to expand its crypto operations through a new trust subsidiary, Connectia Trust. The charter would allow Sony to issue U.S. dollar-pegged stablecoins and hold digital reserves. It also includes plans to offer digital asset custody and management services.

The application signals Sony’s interest in entering the growing stablecoin sector. The market is increasingly attracting attention from large tech and finance companies. Other applicants for similar charters include Stripe, Coinbase, Circle, and Paxos Trust. However, only Anchorage Digital Bank has received full OCC approval so far.

Stablecoin Demand Grows as Regulations Shift

The U.S. has recently clarified rules around stablecoin issuance. The passage of the GENIUS Act established a framework for digital dollar-backed tokens. The act has led to increased participation from major industry players. Sony’s timing suggests it aims to benefit from this new regulatory clarity.

Stablecoins have gained global relevance. They help users trade digital assets or transfer funds without direct access to U.S. dollars. As demand rises, established firms are securing legal pathways to launch stablecoin products. According to the market data, the total value of stablecoins has now hit $312 billion. It is estimated to increase to $360 billion by early 2026.

Connectia Trust to Handle Reserve and Custody Functions

Sony’s application outlines specific functions for Connectia Trust. The trust would issue dollar-pegged stablecoins while holding matching reserves. It also plans to manage digital assets for affiliated clients. These include fiduciary asset management and non-fiduciary custody services.

The OCC has previously allowed such activities under existing national banking laws. Sony’s proposal stays within those legal boundaries. The focus remains on compliance and responsible asset handling. By using a trust structure, Sony ensures separation from other business arms.

Previous Crypto Efforts Signal Long-Term Strategy

Sony has been busy with blockchain. In 2023, the company collaborated with Startale Labs to roll out Soneiun, a layer-2 Ethereum network. The initiative marked its growing commitment to blockchain infrastructure. That effort laid the foundation for future digital asset developments.

Though separate from its gaming division, Sony Bank is one of many financial branches under the Sony Group. This diversification allows the company to explore fintech without crossing into consumer electronics. Its stablecoin initiative may signal a broader digital finance strategy across Sony’s global portfolio.