Sony’s banking division, Sony Bank, has filed an application with the US Office of the Comptroller of the Currency (OCC) to create a national crypto bank under its subsidiary, Connectia Trust.
Through this move, Sony positions itself among the first global corporations to issue a USD-backed stablecoin via a federally regulated institution. Within its application to the OCC, Sony draws plans to issue a USD-pegged stablecoin, maintain the reserve assets backing it, and offer digital asset custody and management services.
Additionally, the initiative puts Sony among the companies currently awaiting OCC approval to operate as national digital banks, including Coinbase, Circle, Paxos, Stripe, and Ripple. If the OCC approves its application, the company could become the first global technology organisation to obtain a US bank charter specifically linked to stablecoin issuance.
Operating as an independent bureau of the US Treasury, the OCC is the only regulator that can issue a national bank charter, enabling a company to legally initiate banking activities across all US states under one single licence. Under the Trump administration and new leadership, the OCC has become a more crypto-friendly regulator, with the shift following years in which a more reserved approach was implemented.
Sony’s stablecoin focus
As more companies are looking to secure banking licences for stablecoin purposes, this shift showcases the evolution of stablecoins from a crypto niche to a mainstream financial instrument, especially after the US passed the GENIUS Act in July 2025. With this bill, regulators create a unified federal framework for stablecoin issuers, demanding full backing by cash or Treasuries and ensuring token holder redemption rights.
As detailed in Sony’s OCC filing, Connectia Trust aims to issue a USD-pegged stablecoin, hold corresponding reserves in cash or Treasuries, and offer digital asset custody and management services. The company mentioned that these operations are included within the OCC’s previously approved scope of permissible national bank procedures.
Moreover, in its application, Sony Bank said that during the initial phase, Trust Bank seeks to engage in digital asset activities that the OCC has found permissible under existing national bank legal authorities, including the issuance of USD-pegged stablecoins and maintenance of corresponding reserve assets, non-fiduciary digital asset custody services, and fiduciary asset management for affiliates.
