Sony Bank Gets Conditional OCC Approval for $40M US Stablecoin Trust

Sony Bank has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to form Connectia Trust, a $40 million US subsidiary that will issue and manage dollar-denominated stablecoins.

The planned entity, Connectia Trust National Association, will be based in New York and is expected to become operational in 2027. Sony Bank, a subsidiary of Sony Financial Group, will hold full ownership of the subsidiary.

The approval comes as part of Sony's broader blockchain activity, which includes launching Soneium, an Ethereum layer-2 network, in early 2025. The company has also partnered with infrastructure firm Bastion to handle issuance, reserve management, and custody for Connectia Trust.