Traditional finance giants have finally entered the game. Sony’s $40 million move is just a starter, and the stablecoin race is set to be reshaped by 2027.

Wu said he learned that Sony Bank announced it has received a preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC). The bank plans to set up a national trust bank, Connectia Trust, in the United States, in preparation for services such as the issuance and management of dollar stablecoins, and plans to open in 2027 after obtaining regulatory approvals from both Japan and the U.S. The subsidiary will be wholly owned by Sony Bank and plans an initial investment of $40 million. This approval is still in a preliminary stage; before receiving OCC final approval, no stablecoins may be issued or official business commenced.