Sony Seeks National Banking Charter to Offer Crypto, Stablecoin Services

Sony Bank, a subsidiary of the Sony Group, has filed for a national banking charter to enable its Connectia Trust subsidiary to issue U.S. dollar-pegged stablecoins, manage reserve assets, and offer digital asset custody and management services. This move aligns with a growing trend of crypto firms, such as Coinbase and Stripe, seeking OCC charters. The regulatory environment for stablecoins has become more favorable, especially after the passage of the GENIUS Act, which established a formal framework for stablecoin issuance and trading. Sony's entry into the stablecoin market comes at a time of significant growth, with the sector's total market capitalization currently at $312 billion.