Author
Sujha Sundararajan
Author
Sujha Sundararajan
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Sony Bank, the banking division of tech giant Sony, is reportedly issuing its US dollar-pegged, GENIUS-regulated stablecoin for US customers as early as fiscal 2026, Nikkei reported Monday.
The Group plans to roll out its 1:1 USD-pegged stablecoin for payments and settlement within its gaming and anime business.
Until now, Sony customers have paid for subscriptions via credit cards and other means, the report added. Launching a stablecoin would potentially reduce fees paid to credit card issuers.
Sony’s Stablecoin Debut and Challenges
Sony took the US markets by surprise in October by filing for an OCC application to establish a national crypto bank charter under its subsidiary “Connectia Trust.”
If approved, Sony would be among the major tech firms to receive stablecoin stablecoin-tied U.S. bank charter.
However, on November 6, the Independent Community Bankers of America (ICBA) wrote a letter to the US OCC, “strongly opposing” Sony Bank’s application.
The Group accused that the approach is designed to receive the benefits of a U.S. bank charter without becoming subject to the full scope of U.S. bank regulations.
ICBA added that Connectia’s model exceeded the traditional scope of trust banks. An approval would weaken the historical separation of banking and commerce, pivoting the field against community banks, it added.
US Stablecoin Market Expands Rapidly
The announcement comes at a time when stablecoins are increasingly influencing international finance and U.S. fiscal stability.
The total market cap of two of the largest USD-pegged stablecoins – Tether’s USDT and Circle’s USDC – accounts for $260 billion, DefiLlama data shows. Further, the total stablecoin market capitalization now exceeds $306 billion.
Standard Chartered issued a dire warning recently, suggesting that over $1 trillion could flow out of emerging-market (EM) banks and into stablecoins by 2028, as adoption of dollar-pegged crypto assets accelerates globally. This makes Sony’s entry well-timed for a rapidly growing sector of the digital economy.
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