Sony Bank has received the provisional conditional approval of the US Monetary Authority (OCC) to establish Connectia Trust, National Association, a subsidiary of the National Trust Bank for the issuance and management of dollar stablecoins. The starting capital is $40 million (~6.4 billion yen), scheduled to be launched in 2027. Connectia will exclusively issue stablecoins, without accepting deposits, loans or payments.
The license makes Sony a "registered issuer" with direct access to the regulator, allowing it to earn income from reserve assets and potentially qualify under the GENIUS law. Strategic use scenarios: treasury operations, cross-border payments and in-game purchases in Sony products (video games, anime, movies, music). Previously, the company partnered with Bastion Platforms as a fallback option for its emissions.
The initiative has provoked criticism from banking groups: concerns about the separation of commercial and banking activities, lack of deposit insurance, and the creation of a "two-tier" regulatory system. OCC may require the appointment of a full-time CFO for the division. Final approvals from the OCC and Japanese regulators are yet to come; commercial activity will begin only after they have been received.