Sony Bank, the digital banking arm of Sony Financial Group a subsidiary of Sony Group Corporation, has announced plans to issue a US dollar-pegged stablecoin targeted primarily at the US market.
The move is part of Sony’s broader push into Web3 technologies and aims to streamline payments within its entertainment ecosystem, including gaming— PlayStation Store purchases and in-game items, anime streaming via Crunchyroll, subscriptions, music, movies, and digital commerce.
This could reduce reliance on high-fee credit card networks, which currently dominate Sony’s payment flows, and enable faster, cheaper cross-border settlements—especially relevant since the US accounts for over 30% of Sony Group’s external revenue.
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As early as fiscal year 2026 starting April 2026, pending US regulatory approvals. The stablecoin will be fully backed 1:1 by US dollars held in reserves, ensuring price stability unlike volatile cryptocurrencies like Bitcoin.
Sony Bank is collaborating with Bastion, a US-based stablecoin infrastructure provider backed by investors including Coinbase Ventures, a16z crypto, Samsung Next, and Sony’s own Innovation Fund. Bastion will handle issuance, custody, reserve management, and compliance.
In October 2025, Sony Bank applied to the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter to establish a dedicated subsidiary potentially named Connectia Trust for stablecoin operations.
The application is under review, facilitated by the GENIUS Act passed in July 2025, which provides a clearer framework for regulated USD-backed stablecoins. This builds on Sony’s prior Web3 efforts, such as launching a yen-pegged stablecoin proof-of-concept in April 2024 with Polygon Labs and SettleMint, and accepting USDC payments on Sony Electronics’ Singapore store via Crypto.com Pay.
Sony Financial Group was spun off and listed on the Tokyo Stock Exchange in September 2025 to focus more sharply on fintech innovations like this. Seamless, low-cost payments for digital content without crypto volatility risks, potentially integrating directly into PlayStation wallets or apps.
For Sony: Cuts transaction fees, improves treasury operations like inter-company settlements, and keeps spending within its ecosystem—aligning with the stablecoin market’s projected growth to $1.9 trillion by 2030 per Citi estimates.
This is a major mainstream adoption signal, following similar moves by tech giants. It positions Sony alongside players like Tether (USDT) and Circle (USDC) but with a regulated, enterprise-focused twist. However, challenges include ongoing US regulatory scrutiny on corporate-issued stablecoins risks to dollar hegemony and money laundering, as seen in past cases like Meta’s Diem project.
Sony Bank has not yet responded to media inquiries for further comment, but the partnership with Bastion was officially confirmed via their channels. This development underscores how entertainment and finance are converging via blockchain, potentially transforming how billions interact with digital media.
Sony Bank and Bastion Partnership
The partnership between Sony Bank a subsidiary of Sony Financial Group and Bastion, a U.S.-based stablecoin infrastructure provider, was officially announced on December 1, 2025, marking a significant step in Sony’s Web3 expansion.
Bastion has been designated as Sony Bank’s exclusive (sole) provider for the issuance, reserve management, custody, and overall infrastructure of a new USD-pegged stablecoin, slated for launch as early as fiscal year 2026.
This collaboration leverages Bastion’s regulated platform to ensure compliance, scalability, and seamless integration into Sony’s entertainment ecosystem, targeting U.S. consumers who represent over 30% of Sony Group’s external revenue.
Bastion will handle end-to-end stablecoin operations, including:Issuance and Redemption: Secure minting and burning of tokens, backed 1:1 by USD reserves cash and short-term U.S. Treasury bonds.
Oversight of collateral to maintain peg stability, with built-in yield generation on idle reserves to optimize Sony’s treasury. Bankruptcy-remote storage via regulated entities, ensuring user funds are protected and compliant with U.S. standards.
White-label solutions for wallets, on/off-ramps, cards, and yield products, allowing Sony to brand the stablecoin while Bastion manages the tech backend. This setup allows Sony to focus on consumer-facing applications without building proprietary blockchain tech from scratch, reducing development time by an estimated 12-18 months.
The stablecoin is expected to operate on Sony’s Ethereum Layer 2 network, Soneium launched January 2025, for low-cost, high-speed settlements. Bastion’s platform supports interoperability with major chains, enabling cross-border efficiency for Sony’s global operations.
Sony Bank applied for a U.S. national trust bank charter from the Office of the Comptroller of the Currency (OCC) in October 2025, aiming to create a subsidiary tentatively “Connectia Trust” for stablecoin activities. This aligns with the GENIUS Act signed July 2025, which clarifies rules for USD-backed stablecoins.
Bastion operates under a New York Department of Financial Services (NYDFS) trust charter via its Dibbs Trust Company subsidiary, providing money transmitter licenses (MSL/MTL) and built-in KYC/AML compliance.
This minimizes regulatory hurdles for Sony, addressing concerns like FDIC insurance gaps raised by groups such as the Independent Community Bankers of America (ICBA). The partnership aims to create “programmable money” for Sony’s ecosystem, reducing reliance on high-fee credit card networks potentially saving Sony up to $200 million annually in fees and enabling faster inter-company settlements.
Kazuhito Hadano, CEO of Sony Ventures Corporation, emphasized: “Together [Sony and Bastion] will bring stablecoins to the mass market and set the tone for enterprise adoption of digital assets.”
Nass Eddequiouaq, Bastion’s Head of Partnerships, highlighted the dual focus on internal efficiency and consumer convenience. In September 2025, Sony Innovation Fund joined Bastion’s $14.6 million strategic funding round, led by Coinbase Ventures, alongside a16z crypto, Samsung Next, and Hashed.
This investment underscores mutual alignment, positioning Bastion as a trusted partner for regulated, enterprise-grade stablecoins—similar to alternatives like Paxos but tailored for branded, white-label issuance.
Bastion’s platform is designed for institutions avoiding speculative crypto risks, emphasizing compliance and scalability to handle high-volume payments.
This deal positions Sony as a bridge between traditional entertainment and blockchain, joining trends like Stripe’s stablecoin integrations and the $306 billion stablecoin market projected to hit $1.9 trillion by 2030.
For Bastion, it’s validation of its “stablecoin-as-a-service” model, attracting more enterprises wary of building in-house. Early X reactions praise the regulatory focus and potential for mainstream gaming payments, with users noting it could “unlock new possibilities in digital finance.”
Challenges remain, including OCC approval delays and ICBA concerns over consumer protections, but the GENIUS Act provides a favorable tailwind. Overall, this partnership signals accelerating corporate stablecoin adoption, blending fiat stability with blockchain efficiency.