Sony Bank receives conditional OCC approval to establish a national trust bank, to launch stablecoin business in 2027.

Sony Bank Approved by the U.S. OCC to Establish a National Trust Bank; Subsidiary Connectia Trust to Launch USD Stablecoin Issuance in 2027, While a Japanese Traditional Bank Officially Joins the Stablecoin Race.
(Background: SEC Gives the Green Light! The U.S. Office of the Comptroller of the Currency allows banks to provide reserve accounts for fiat stablecoin issuers)
(Additional Background: BitoPro launches an enterprise-level stablecoin settlement service, Bito.ONE, seeking ten companies for pilot use)

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• From an Electronics Giant to Financial Infrastructure: Sony’s Stablecoin Layout
• The OCC Stablecoin Track: From Wall Street to Japanese Banks
• Implications for the Taiwan Market

On July 9, Sony Bank announced that it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank in the United States. This month, Sony Bank will set up its subsidiary, Connectia Trust, and plans to launch the issuance and management of USD-denominated stablecoins between the end of 2026 and 2027.

According to the official announcement released by Sony Bank, the OCC approval it received this time is “conditional” in nature, meaning Sony must meet a series of regulatory requirements before it can officially begin operations. Connectia Trust will operate as a wholly owned subsidiary of Sony Bank, handling stablecoin-related business operations.

From an Electronics Giant to Financial Infrastructure: Sony’s Stablecoin Layout

Sony Bank’s move is not its first step into the crypto space. As Japan’s second-largest retail bank (with about 27 million customers), Sony Bank has gradually expanded its digital finance presence in recent years. In 2025, Sony Bank began accepting cryptocurrencies from customers to purchase time deposits, and it has established partnerships with multiple crypto exchanges.

This establishment of a trust bank further upgrades the strategic level—Connectia Trust’s scope is not limited to stablecoin issuance, and also includes:

• Issuance and redemption management of USD-denominated stablecoins
• Custody and auditing of stablecoin reserve assets
• Enterprise-level stablecoin settlement services

The OCC Stablecoin Track: From Wall Street to Japanese Banks

The OCC’s openness to stablecoins is not new. In 2024, the U.S. Office of the Comptroller of the Currency SEC gave the green light! The U.S. Office of the Comptroller of the Currency allows banks to provide reserve accounts for fiat stablecoin issuers, allowing banks to provide reserve accounts for fiat stablecoin issuers. Subsequently, the OCC further loosened regulation: banks can custody crypto assets and stablecoin transactions, and banks do not need prior approval to custody crypto assets and participate in stablecoin transactions.

But the trend of traditional banks rushing to secure a foothold on the OCC stablecoin track is accelerating. Paxos (the BUSD issuer) had its bank dreams shattered—its application deadline at the end of March had already expired, and even when it tried to find the OCC again, its eligibility expired as well, showing that competition for trust bank licenses is fiercer than expected. Now, even Japan’s banking system has joined this race.

Implications for the Taiwan Market

Sony Bank’s stablecoin roadmap aligns closely with Taiwan’s development trajectory. Taiwan’s homegrown stablecoin settlement service provider BitoPro has already launched an enterprise-level stablecoin settlement platform, Bito.ONE, this year, and is soliciting ten companies to join the first wave of pilots. If Connectia Trust launches as scheduled in 2027, its stablecoins are likely to enter the Taiwan market through Sony’s Asia-Pacific supply-chain network, providing Taiwanese businesses with an alternative solution for USD stablecoin settlement.

The Bank of Japan currently still has no central bank digital currency plan: for the sake of financial stability, it has not launched any central bank digital currency initiative. As an early mover in retail banking, Sony Bank may provide a reference for Taiwan’s financial industry—traditional banks do not have to wait for central bank action and can flexibly enter the stablecoin market through subsidiaries.