Sony Makes Its Move into Crypto Banking
Sony Bank, a division of Sony Group, has officially filed an application for a national crypto banking charter with the U.S. Office of the Comptroller of the Currency (OCC) - aiming to establish its subsidiary, Connectia Trust, as a regulated digital asset institution.
According to the filing, Sony Bank’s new trust would engage in “specified activities involving cryptocurrency”, including the issuance of U.S. dollar-pegged stablecoins, custody services, and digital asset management for both institutional and retail clients.
If approved, Sony would become one of the first major multinational corporations to own a fully regulated crypto bank, marking a major convergence between traditional finance and the blockchain economy.
Riding the Stablecoin Wave
Sony’s timing appears strategic. The U.S. recently passed the GENIUS Act, the country’s first formal legal framework for stablecoin issuance and trading. The act sparked a rush of high-profile entrants - from Stripe and Coinbase to Paxos and Circle - all vying for stablecoin dominance.
The stablecoin market has grown to a total capitalization of $312 billion, led by Tether (USDT) and Circle’s USDC. Analysts expect that figure to hit $360 billion by February 2026, making Sony’s entry particularly well-timed.
Stablecoins play a key role in global payments, especially in regions where dollar access is restricted. They also serve as digital settlement layers, enabling fast, low-cost transfers across borders and between exchanges.
A Crowded Race for Crypto Bank Charters
Sony’s Connectia Trust joins a growing list of companies seeking crypto banking charters from the OCC, including Coinbase, Circle, Stripe, and Paxos.
So far, only Anchorage Digital Bank has successfully secured a de novo OCC charter, though it temporarily faced a cease-and-desist order in 2022 over compliance issues - later lifted as regulatory clarity improved.
With regulators now taking a more accommodating approach toward crypto institutions, Sony’s banking application may benefit from this friendlier environment.
Sony’s Expanding Blockchain Ambitions
This isn’t Sony’s first step into crypto. In January 2025, the Sony Group partnered with Startale Group to launch Soneiun, an Ethereum Layer-2 network designed to support Web3 applications, NFTs, and gaming interoperability across PlayStation’s ecosystem.
The new bank charter indicates Sony is expanding its blockchain footprint beyond infrastructure and into financial services, aligning with its long-term goal to integrate digital identity, payments, and content monetization within a decentralized ecosystem.
