Sony Bank Files for US Crypto Banking License to Issue Stablecoin
Sony Group’s financial arm is making a major move into the U.S. digital asset market. Through its subsidiary, Connectia Trust, Sony Bank has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). This application positions the tech giant among major financial institutions seeking regulated crypto banking operations.
Sony Bank Crypto Services Through Connectia Trust
The filing details Sony Bank’s plans to develop and manage dollar-backed stablecoins, oversee reserve assets, and provide digital custody and portfolio management solutions. The subsidiary intends to initially offer these services to select corporate clients and affiliates.
These proposed activities align with services already approved for other nationally chartered banks under OCC guidance. The application demonstrates Sony’s commitment to operating within established regulatory frameworks while entering the digital asset sector.
Connectia Trust will focus on legally compliant digital asset transactions. The bank emphasized that the new operations would be handled separately from its entertainment subsidiaries, including Sony Interactive Entertainment, the division behind PlayStation. This separation maintains clear operational boundaries between Sony’s diverse business segments.
Growing Competition for US Crypto Banking Charters
Sony Bank joins a growing list of firms seeking OCC charters, including Stripe, Coinbase, Paxos Trust, and Circle. The application comes during heightened interest in regulated stablecoin services among traditional and crypto-native financial institutions.
Anchorage Digital Bank is the only company to have received a full license so far. The bank faced regulatory challenges earlier, but received relief from previous restrictions in August 2025. Sony’s entry adds competitive pressure to the race for federal crypto banking approval.
Stablecoin Market Expansion Drives Sony Bank Application
The sector now commands a combined market capitalization of $312 billion, reflecting growing global demand for digital dollars. This substantial market size makes stablecoin issuance an attractive business opportunity for established financial institutions.
Following the passage of the GENIUS Act in the United States, which formally established a regulatory framework for issuing and trading stablecoins, a rush of power players in the finance and tech industries have entered the stablecoin race. Clear regulations have encouraged major corporations to explore this sector.
Stablecoins serve as digital equivalents to traditional currencies in regions with limited access to dollar liquidity. They enable seamless transactions and remittances across borders without requiring direct access to physical dollars. This functionality has become increasingly valuable in the global digital economy.
Sony’s Blockchain Initiatives Beyond Banking
In partnership with Startale Group, the conglomerate launched Soneiun, an Ethereum Layer-2 network that went live earlier this year after several months of testing. This project demonstrates Sony’s broader commitment to blockchain technology beyond financial services.
The Layer-2 network enhances decentralized application capabilities on the Ethereum blockchain. Sony’s involvement in multiple blockchain initiatives shows a coordinated strategy to establish a presence across different segments of the digital asset ecosystem.
The company sees stablecoins as the next logical step in expanding its financial and digital infrastructure. This strategic vision connects Sony’s blockchain technology investments with practical financial applications.
Regulatory Environment for Digital Asset Banking
The OCC has oversight authority for national bank charters and cryptocurrency custody services. Recent approvals have set precedents for traditional financial institutions to enter the digital asset space. The OCC has approved similar arrangements for other institutions in recent months.
If approved, Sony Bank’s entry into the U.S. stablecoin market would mark one of the first cases of a global technology conglomerate securing direct banking authorization for digital asset operations. This approval could accelerate convergence between the traditional finance and technology sectors.
Conclusion
Sony Bank’s application for a crypto banking charter represents a significant milestone for technology companies entering regulated financial services. Combining Sony’s global brand recognition, financial expertise, and blockchain experience positions Connectia Trust as a formidable potential player in the digital asset market. Approval would validate the business model of technology conglomerates operating regulated crypto banking services alongside traditional operations.
