Sony Bank is preparing to issue a dollar-pegged stablecoin in the United States as early as fiscal 2026, aiming to reduce transaction costs across the conglomerate’s gaming and streaming platforms, Nikkei reported.
The digital currency would enable payments for PlayStation games, subscriptions, and anime content, potentially lowering the fees Sony currently pays to credit card networks. US customers account for roughly 30% of Sony Group’s external sales, making the market critical for adoption.
Sony Bank applied for a US banking license in October through a subsidiary called Connectia Trust and has partnered with Bastion, a stablecoin infrastructure provider backed by Coinbase Ventures. Sony’s venture arm participated in Bastion’s $14.6 million funding round in September.
The initiative faces regulatory headwinds. The Independent Community Bankers of America filed a letter with the Office of the Comptroller of the Currency opposing the application, arguing that the proposed structure would allow Sony to operate like a deposit-taking institution without meeting the full scope of US banking regulations. The trade group noted the stablecoin would function similarly to a checking account but lack FDIC insurance.
Sony Bank established a Web3 subsidiary called BlockBloom in June with ¥300 million ($1.9 million) in initial capital. Whether the bank can navigate regulatory scrutiny remains uncertain as competition in the stablecoin market intensifies.
