Sony Bank Gets OCC Nod for Stablecoin Trust Bank
Sony Bank, a subsidiary of Sony Financial Group, has received conditional authorization from the U.S. OCC to create Connectia Trust, National Association, a national trust bank based in New York with a capital of $40 million. The board sanctioned this initiative on July 6, 2026, and it was disclosed the following day. The establishment is anticipated to occur this month, while stablecoin activities are slated to commence in 2027. Connectia Trust will have the capability to manage stablecoin reserves and hold customer assets, but it will not be permitted to accept cash deposits or provide loans. Final approval hinges on additional OCC assessment and approval from Japanese regulators. Sony intends to utilize the stablecoin for transactions within its entertainment ecosystem. The OCC has previously issued similar approvals to other companies, and Sony's initial application was submitted in October 2025.
Key facts
- Sony Bank secured conditional approval from the OCC to establish Connectia Trust, a national trust bank subsidiary.
- Connectia Trust will be based in New York with $40 million in capital.
- The board ratified the plan on July 6, 2026, and the OCC's conditional approval was disclosed on July 7, 2026.
- Formation is expected in July 2026, but commercial stablecoin operations will not begin until 2027.
- Connectia Trust can hold customer assets and manage stablecoin reserves but cannot accept cash deposits or extend loans.
- Final approval requires additional OCC review and sign-off from Japanese regulators.
- Stablecoin transaction volume hit a record $1.79 trillion in June 2026, more than doubling year-over-year.
- Sony filed its original OCC application in October 2025 and Bastion Platforms is expected to handle issuance and custody infrastructure.
Entities
Institutions
- Sony Bank
- Sony Financial Group
- Sony Financial Group Inc.
- Connectia Trust, National Association
- Office of the Comptroller of the Currency (OCC)
- Visa
- DeFiLlama
- Tether
- Circle
- Ripple
- Paxos
- BitGo
- Fidelity Digital Assets
- Stripe
- Bridge
- Morgan Stanley
- Bastion Platforms
- Sony Group Corporation (NYSE: SONY)
- NFT Plazas
Locations
- United States
- New York
- Japan
- Washington