Sony Bank plans to issue a U.S. dollar-pegged stablecoin as early as fiscal 2026, positioning the Japanese tech giant to transform how millions of customers pay for video games and anime content within its digital ecosystem. The initiative was reported Monday by Nikkei, marking one of the most significant moves by a major entertainment company into regulated digital currency issuance.
The online banking arm of Sony Financial Group envisions the dollar-backed token replacing or supplementing credit card payments for subscriptions and digital content across Sony's platforms, including PlayStation and the Crunchyroll anime streaming service. By eliminating traditional payment processor fees, Sony could reduce transaction costs while keeping users spending within its ecosystem.
Sony Bank has already filed for a U.S. national banking charter through its subsidiary Connectia Trust and established a partnership with U.S. stablecoin infrastructure provider Bastion, according to the report. The move comes amid growing momentum in the stablecoin sector, which now exceeds $300 billion in total market capitalization.
What Happened
Sony Bank submitted an application to the Office of the Comptroller of the Currency on October 6 to establish Connectia Trust as a national trust bank authorized to engage in cryptocurrency activities. The filing outlined plans to issue one-to-one dollar-pegged stablecoins, maintain corresponding reserve assets in cash or Treasury securities, and provide digital asset custody services.
The proposed stablecoin would operate under the GENIUS Act, federal legislation passed in July that established the first comprehensive regulatory framework for dollar-backed stablecoins in the United States. The law requires full backing by high-quality liquid assets, mandatory audits for issuers exceeding $50 billion in market capitalization, and clear redemption rights.
Sony's partnership with Bastion will provide the technical infrastructure for compliance, issuance and redemption functions. Bastion operates a "stablecoin-as-a-service" platform that allows enterprises to issue branded tokens while maintaining regulatory compliance with U.S. requirements.
The U.S. market accounts for more than 30 percent of Sony Group's external revenue, according to company disclosures. Sony plans to establish a U.S.-based entity to oversee stablecoin operations and regulatory compliance.
However, the banking application faces opposition from industry groups. The Independent Community Bankers of America submitted a letter to the OCC on November 6 strongly opposing Sony's charter request. The trade association argued that Connectia's model exceeds the traditional scope of trust banks and would allow Sony to gain benefits of a bank charter without full regulatory oversight.
The ICBA warned that stablecoins could function like bank deposits while avoiding Federal Deposit Insurance Corporation coverage and Community Reinvestment Act obligations. The organization also raised concerns about operational risks if Connectia Trust failed, noting the OCC has not managed a failed uninsured national bank since 1933.
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Why It Matters
The stablecoin initiative represents Sony's most aggressive push into blockchain-based financial infrastructure and could reshape payment dynamics across its entertainment properties. PlayStation generated billions in digital sales through its storefront, while Crunchyroll has become the world's largest anime streaming platform with millions of subscribers.
Sony's move reflects broader institutional momentum in stablecoin adoption. Swedish fintech Klarna announced plans in November to launch its own dollar-backed token, while traditional banks including JPMorgan and Wells Fargo have explored similar initiatives. The total stablecoin market grew from $200 billion to over $300 billion during 2025, with Standard Chartered projecting the sector could reach $1.9 trillion by 2030.
If approved, Connectia Trust would join a select group of firms including Coinbase, Circle, Paxos and Ripple seeking federal charters for stablecoin operations. The OCC review process typically requires 12 to 18 months, though public opposition could extend the timeline.
Sony has been building blockchain capabilities for several years. The company launched its Soneium Ethereum layer-2 network in January 2025 following a testnet phase that attracted 14 million users and processed 47 million transactions. Built on Optimism Foundation's OP Stack technology, Soneium aims to support NFT-based fan engagement and creator economies across Sony's entertainment divisions.
The electronics giant also filed multiple blockchain-related patents in recent years, including a 2021 application for infrastructure allowing gamers to own and transfer NFTs representing in-game items. However, Sony has not yet implemented NFT functionality within the PlayStation ecosystem.
The stablecoin project could provide Sony with greater control over payment flows while potentially reducing reliance on credit card networks. Beyond consumer payments, the infrastructure could enable faster settlement for third-party developers distributing content through PlayStation Store or facilitate cross-border treasury management between Sony's international subsidiaries.
For the broader entertainment industry, Sony's initiative tests whether major consumer brands can successfully navigate the complex regulatory landscape required to issue stablecoins. The outcome will influence whether other media companies pursue similar strategies or partner with existing stablecoin providers rather than launching proprietary tokens.
The fiscal 2026 launch target gives Sony approximately 12 to 18 months to complete licensing, build operational infrastructure, and integrate stablecoin functionality into its digital properties. Success would position the company at the intersection of entertainment and regulated digital finance, potentially creating new models for how global media conglomerates handle payments across their ecosystems.
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