Sony’s online banking arm has received conditional approval to set up Connectia Trust, a U.S. national trust bank that will handle issuing and managing U.S. dollar-backed stablecoins. The new bank will be based in New York, have $40 million in capital, and be fully owned by Sony Bank. However, it cannot start operating or issue stablecoins until it gets final approval from the Office of the Comptroller of the Currency (OCC).
This approval comes as stablecoin use is growing quickly. Visa’s on-chain dashboard shows that stablecoin transactions hit a record $1.79 trillion last month, up 63% from May and more than double the amount from a year ago.
Even with this fast growth, Sony is joining a very competitive market. DeFiLlama says the stablecoin market is now worth over $311 billion, with USDT and USDC making up about $250 billion of that. Other companies like Circle, Paxos, and Stripe-owned Bridge have also received conditional approval for similar trust-bank setups linked to stablecoins.
Sony has already looked into launching stablecoins for payments in gaming and anime, which suggests this technology could one day support its broader entertainment business.
Sony’s plans also fit with changing U.S. regulations. Lawmakers are working on the GENIUS Act, which aims to create a federal framework for payment stablecoins.
Although the OCC’s decision does not set a launch date, this approval shows that big global companies are preparing for broader use of regulated digital dollars in mainstream finance.
LATEST: 🏦 Sony Bank has received conditional OCC approval to form a $40M US trust subsidiary preparing to issue and manage dollar-denominated stablecoins. pic.twitter.com/TEFI8YPZ5v
— CoinMarketCap (@CoinMarketCap) July 9, 2026
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