Sony May Launch Cryptocurrency Bank in the US

• Sony applies for cryptocurrency banking license
• Plans to issue dollar-pegged stablecoin
• Sony Bank: Will Offer Crypto Asset Custody and Management

Sony Corp.'s banking division has submitted an application for a national license in the United States that would allow its subsidiary Connectia Trust to conduct "certain specified activities involving cryptocurrencies," according to the company's filing.

In its application, Sony Bank states that its goal is to issue US dollar-backed stablecoins, maintain corresponding reserves, and offer digital asset custody and management services. The institution also emphasizes that it intends to perform these functions in a manner compatible with the standards already permitted for existing national banks.

Several companies focused on the cryptocurrency market have already filed similar requests with the Office of the Comptroller of the Currency (OCC), including Stripe, Coinbase, Paxos Trust, and Circle. So far, only Anchorage Digital Bank has received full approval for federal operations, despite facing a cease-and-desist order in 2022, which was later revoked in 2025 due to regulatory changes.

The passage of the GENIUS Act in the US established a formal framework for the issuance and trading of stablecoins, which encouraged major companies in the financial and technology sectors to enter the competition. This type of crypto, which functions as a sort of digital equivalent to the dollar, is quite important in markets with limited access to the US dollar or in international operations.

Currently, the global stablecoin market exceeds $312 billion. Analysts at Myriad believe there's a 68% chance this value will reach $360 billion by February 2026. In this context, Sony's initiative comes at an opportune time to enter a growing sector.

It is worth noting that Sony Bank belongs to the Sony Group — the same conglomerate present in the PlayStation division — but operates independently within the group's vast portfolio of subsidiaries.

Regarding strategic positioning, the company states in its request that:

During its initial phase of operations, Trust Bank intends to engage in certain digital asset activities that the OCC has previously found to be permissible under current national banking law enforcement authorities. This includes issuing dollar-pegged stablecoins and maintaining corresponding reserve assets, providing custody services for non-fiat digital assets, and providing asset management services as a fiduciary for certain affiliates.

This move doesn't represent Sony's first foray into the blockchain ecosystem. In 2025, the group already partnered with Startale Group to launch the Soneiun network, an Ethereum-based layer 2 solution. Sony now seeks to combine financial expertise with a presence in the cryptocurrency world through its new banking division focused on digital assets.