Sony’s Banking Arm Eyes US National Bank License for Crypto Services

Sony Group’s banking division has taken the first step towards operating in the cryptocurrency space by submitting an application for a U.S. national bank license. Connectia Trust, the company’s subsidiary, will leverage this license to offer various crypto services. These include issuing a US dollar stablecoin, managing reserve assets associated with the stablecoin, and providing digital asset custody and investment management solutions.