Hassan Maishera
TL;DR
-
Sony Bank has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
-
The bank plans to launch Connectia Trust, a wholly owned U.S. subsidiary with $40 million in capital.
-
Connectia Trust is expected to issue a U.S. dollar-backed stablecoin, with a targeted launch in 2027, subject to final regulatory approval.
Japan's Sony Bank has taken a major step into the digital asset industry after receiving conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a U.S. national trust bank.
The move paves the way for the bank to launch a U.S. dollar-backed stablecoin, expanding Sony Financial Group's presence in the growing digital payments market.
Connectia Trust to Lead Sony's U.S. Stablecoin Strategy
According to a statement released on July 6, Sony Bank will establish a wholly owned U.S. subsidiary named Connectia Trust later this month.
The trust company will launch with $40 million in capital and will be responsible for issuing and managing the company's planned dollar-denominated stablecoin.
While the OCC has granted conditional approval, Connectia Trust must still obtain final regulatory clearance before beginning operations.
The company is expected to launch sometime in 2027, pending approval from U.S. regulators.
Sony has previously outlined plans to integrate its stablecoin across its expanding portfolio of digital services.
According to earlier comments reported by Nikkei, the company expects U.S. consumers to use the stablecoin for purchases such as:
-
Video games
-
Anime content
-
Digital subscriptions
-
Other entertainment services within Sony's ecosystem
The initiative reflects Sony's broader strategy of combining digital assets with its entertainment and financial businesses to create new payment experiences for customers.
Sony Bank said the establishment of Connectia Trust is intended to strengthen the group's long-term digital asset business.
The bank stated that the trust subsidiary will serve as an important foundation for expanding Sony Financial Group's presence in blockchain-based financial services and digital payments over the coming years.
The company has not yet announced who will lead Connectia Trust.
More Firms Seek OCC Trust Bank Charters
Sony's approval comes as a growing number of cryptocurrency and financial technology companies pursue national trust bank status in the United States.
Last year, the OCC granted conditional approval to several major digital asset firms, including Ripple, Circle, Fidelity Digital Assets, and Paxos.
If these companies receive final approval, they will be permitted to custody customer assets through national trust banks, although they will not be allowed to accept traditional cash deposits or issue loans.
Meanwhile, BitGo received full OCC approval in December.
The OCC's decision to approve more crypto-focused trust banks has generated political scrutiny.
U.S. Senator Elizabeth Warren has criticized the regulator, arguing that some companies receiving national trust charters may not qualify under the National Bank Act.
Industry advocates have strongly disputed those claims. Earlier this year, the Digital Chamber, which represents more than 250 blockchain and digital asset organizations, defended the OCC's authority to issue the charters.
The organization's CEO, Cody Carbone, argued that the approvals are consistent with the regulator's long-established chartering authority and comply with existing banking laws.
Stablecoin Competition Continues to Intensify
Sony Bank's planned stablecoin highlights the growing interest among traditional financial institutions in blockchain-based payment infrastructure.
As regulatory clarity improves in the United States, more banks and financial services companies are exploring stablecoins as a way to modernize payments, reduce settlement times, and integrate digital assets into everyday financial services.
If Connectia Trust receives final approval, Sony could become one of the first major global entertainment companies to operate its own regulated U.S. dollar-backed stablecoin for consumer payments.
