Sony Bank Wins Conditional OCC Approval for USD Stablecoin Trust Bank

Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank. The Japanese lender plans to issue a dollar-backed stablecoin through a new U.S. subsidiary once final regulatory clearance is in place.

The bank said in a July 6 statement that it intends to set up Connectia Trust this month with $40 million in capital. The entity is expected to begin operations in 2027. Connectia Trust would issue and manage a stablecoin pegged 1:1 to the U.S. dollar. Sony plans to use the coin for payments across its ecosystem, including video games, anime, subscriptions, and other digital content, according to earlier comments reported by Nikkei.

International Business Times reported that Connectia Trust is subject to final regulatory clearance before launch. The OCC’s conditional approval does not authorize Sony to begin operations immediately. Connectia Trust must satisfy the regulator’s remaining conditions before opening as a national trust bank.