- Sony Bank has applied for a U.S. crypto banking charter via Connectia Trust.
- The plan includes issuing USD-pegged stablecoins and offering custody services.
- This move follows the GENIUS Act, amid a $312 billion stablecoin market boom.
Sony is officially stepping into the world of crypto banking. The Japanese tech giant’s financial arm, Sony Bank, has filed for a national banking charter in the United States through its subsidiary Connectia Trust, with plans to issue U.S. dollar–pegged stablecoins, maintain reserves, and provide digital asset custody and management services.
A Major Move Into Crypto Finance
According to Sony’s filing with the Office of the Comptroller of the Currency (OCC), Connectia Trust aims to engage in “specified activities involving cryptocurrency” — particularly those already approved for other national banks under existing legal authorities. These include the issuance of stablecoins, the maintenance of corresponding reserves, and digital asset management as a fiduciary for select affiliates.
If approved, Sony would join an elite list of companies pursuing federal charters for crypto banking — including Stripe, Coinbase, Paxos, and Circle. So far, only Anchorage Digital Bank has received full approval, though it briefly faced regulatory challenges before the OCC lifted restrictions earlier this year.
The GENIUS Act Sparks a New Stablecoin Rush
Sony’s timing is no accident. Following the passage of the GENIUS Act in the U.S., which established clear regulations for issuing and trading stablecoins, major players in both finance and tech have rushed into the space. Stablecoins — digital tokens backed by real-world assets like the U.S. dollar — have become essential infrastructure for crypto markets, enabling smooth transfers and liquidity without depending on banks.
The global stablecoin market now exceeds $312 billion, with analysts on the Myriad prediction platform estimating a 68% chance it grows to $360 billion by February 2026. That positions Sony to enter the market at a highly profitable moment, especially as demand for regulated and transparent issuers continues to rise.
Sony’s Growing Blockchain Ambitions
This isn’t Sony’s first crypto play. In early 2025, the Sony Group partnered with Startale Labs to launch Soneiun, an Ethereum Layer-2 network designed to scale decentralized applications. Now, with Connectia Trust, Sony appears ready to merge its financial expertise with blockchain infrastructure, expanding its presence in the global digital asset ecosystem.
Sony Bank operates independently within the broader Sony Group portfolio, which also includes Sony Interactive Entertainment, maker of the PlayStation. This separation gives Sony flexibility to explore financial innovation without affecting its core entertainment divisions.
What Comes Next
If granted the OCC charter, Sony’s Connectia Trust could become one of the first major tech-bank hybrids with authority to issue regulated stablecoins in the U.S. — a move that could reshape the digital asset landscape and intensify competition with traditional financial institutions and crypto-native firms alike.
