Sony Bank Seeks U.S. Trust Charter for Stablecoin Issuance and Management

Financial arm of Sony, Sony Bank, has officially requested a national trust bank charter from the U.S. Office of the Comptroller of Currency (OCC). This move aims to enable the issuance and management of stablecoins within the U.S. market, along with providing digital asset custody services. The subsidiary Connectia Trust will have the authority to deploy dollar-pegged stablecoins, maintain their reserve assets, and offer these specialized services. 🔒 This request aligns with the rise in stablecoin regulations, following the passage of the GENIUS Act that established rules for payment stablecoin issuance in the U.S. 🚀. Sony joins a growing list of firms like Stripe / Bridge, Coinbase, Circle, and Paxos seeking similar charters to operate within the regulated stablecoin space. This move grants Sony Bank a bridge between traditional banking operations and blockchain technology, opening doors for new roles in payments, tokenization, and crypto asset custody.