Sony Bank Wins OCC Nod to Launch Dollar Stablecoin Through New US Trust Entity
Sony Bank Wins OCC Nod to Launch Dollar Stablecoin Through New US Trust Entity #
Sony Bank, the online banking arm of Japan’s Sony Financial Group, has received preliminary conditional approval from the US Office of the Comptroller of the Currency to establish a national trust bank subsidiary that would issue a dollar-backed stablecoin in the United States.
The planned entity, Connectia Trust, National Association, will be based in New York and wholly owned by Sony Bank. Sony Bank intends to formally incorporate Connectia Trust this month with initial capital of $40 million. Full commercial operations are targeted for 2027, pending final regulatory clearance from the OCC.
Sony Financial Group said the trust subsidiary is designed to “contribute to the development of a medium-to long-term business foundation for the Sony Financial Group’s digital asset businesses.” Connectia Trust will issue and manage US dollar-denominated stablecoins, maintain corresponding reserves, provide stablecoin custody services, and offer fiduciary asset management. The company has not yet named a chief executive or representative director for the new entity.
The OCC approval is conditional. Before Connectia Trust may open for business or conduct any stablecoin-related activity, it must satisfy pre-operational requirements, including completing a preopening examination and meeting the OCC’s capitalization standards.
Sony Bank filed its de novo trust charter application with the OCC in October 2025. The application drew objections from the Bank Policy Institute, the Independent Community Bankers of America, and the National Community Reinvestment Coalition, a consumer advocacy group. The OCC’s conditional approval proceeded despite those objections.
Sony has previously told Nikkei it envisions the token being used by US consumers to pay for video games, anime series, digital subscriptions, and other content on platforms such as PlayStation Store and Crunchyroll.
Sony joins a group of firms that have sought OCC trust charters as a framework for stablecoin issuance, including Ripple, Circle, Fidelity Digital Assets, and Paxos, all of which have received conditional approvals. Trust banks chartered under this structure may hold customer assets and issue tokens but cannot accept retail cash deposits or extend loans.
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