Sony Bank Wins Conditional OCC Approval to Launch U.S. Dollar Stablecoin

Highlights:

• Sony Bank OCC approval moves the lender closer to launching a U.S. dollar-backed stablecoin through Connectia Trust.
• Sony plans to use its future stablecoin for payments across games, anime, subscriptions, and other digital services.
• Connectia Trust cannot begin operations or issue stablecoins until it receives final approval from the OCC.

Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank in the United States. The Japanese lender plans to establish Connectia Trust National Association this month as a wholly owned subsidiary with $40 million in capital.

Japan's Sony Bank Wins US Stablecoin Approval

Sony Bank has secured conditional approval from the OCC to establish a U.S. national trust bank.

The lender plans to launch Connectia Trust with $40 million in capital this month. The unit aims to issue a dollar backed stablecoin,… pic.twitter.com/8CFJmx5yBh

— BSCN (@BSCNews) July 9, 2026

Sony Bank first applied for the national trust bank charter in October last year. Sony Bank said Connectia Trust will strengthen Sony Financial Group’s long-term digital asset business in the United States by supporting its stablecoin strategy. The bank has not named a representative for the new subsidiary.

The Office of the Comptroller of the Currency granted conditional approval, meaning Connectia Trust must satisfy additional regulatory requirements before starting operations. Connectia Trust cannot conduct business activities or issue its planned stablecoin until the OCC grants final approval. Sony Bank expects Connectia Trust to begin operating as a national trust bank next year after receiving final approval from the OCC.

Sony Bank began preparing for the trust bank before the OCC decision by partnering with Bastion Platforms in December last year. Bastion will provide infrastructure for stablecoin issuance after regulators grant final approval. Bastion will also manage reserve infrastructure and provide custody support for Connectia Trust. Bastion’s reserve management and custody services will support Connectia Trust’s stablecoin operations under federal supervision after launch.

Sony Bank OCC Approval Opens Path for Connectia Trust

Connectia Trust plans to issue and manage a stablecoin backed one-to-one by the U.S. dollar. Sony Bank previously said American customers could use the dollar-backed stablecoin to pay for video games, anime, subscriptions and other digital content across Sony’s digital entertainment ecosystem. Sony plans to base Connectia Trust in New York. Connectia Trust will manage stablecoin reserves and provide digital asset custody after receiving final regulatory approval.

A national trust bank can manage stablecoin reserves and provide digital asset custody under federal supervision. However, national trust banks cannot accept customer cash deposits. They also cannot make loans under their federal charters.

Sony Bank will enter a competitive stablecoin market where USDT and USDC dominate most of the circulating supply. DeFiLlama data shows dollar-backed tokens account for more than 99% of the roughly $311 billion stablecoin market. USDT and USDC together represent about $250 billion of that total.

Federal Trust Charters Draw More Political Debate

Sony Bank joins a long list of companies seeking federal trust bank status for digital asset businesses. The OCC previously granted conditional approvals to Ripple, Circle, Paxos and Fidelity Digital Assets. BitGo later received full OCC approval in December. Stripe-owned Bridge also received conditional approval from the OCC to establish a federal trust bank for its stablecoin business.

Meanwhile, Senator Elizabeth Warren criticized the OCC’s recent trust bank approvals because she argued some applicants do not qualify under the National Bank Act. The Digital Chamber rejected Warren’s criticism in May and argued that the OCC acted within its longstanding charter authority. Chief Executive Officer Cody Carbone said Warren’s interpretation misreads both the National Bank Act and the OCC’s longstanding charter authority.

针对美国参议员 Elizabeth Warren 称 Coinbase、Ripple 等加密公司获得美国国家信托银行牌照可能违法，行业组织 Digital Chamber 致信美国货币监理署（OCC）要求其捍卫相关审批。Warren 认为，OCC 允许加密公司借限制性信托牌照开展类似银行业务，可能削弱传统银行监管并带来系统性风险。Digital…

— 吴说区块链 (@wublockchain12) May 26, 2026