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Sony Bank has received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Connectia Trust, National Association, a national trust bank focused on issuing and managing U.S. dollar stablecoins. The approval places Sony among companies pursuing federal trust charters for digital assets, alongside Circle, Ripple, and Paxos.
Connectia will operate as a wholly owned subsidiary of Sony Financial Group with initial capital of $40 million, or about ¥6.4 billion, while the company targets a 2027 launch. Although the OCC granted conditional approval, Sony cannot begin operations until it secures final authorization from U.S. regulators and additional approvals from Japanese authorities.
Sony Bank said Connectia will serve one purpose only. The trust will issue and manage dollar-denominated stablecoins without offering traditional banking services. The application excludes deposit-taking, lending, and payment services. Instead, the proposed trust will concentrate solely on stablecoin issuance, custody, management, transfer, and redemption.
Meanwhile, Sony confirmed that no commercial activities will begin before all regulatory approvals arrive. The company stated that stablecoin issuance will remain on hold until the OCC grants final approval and every required authorization becomes effective.
As Sony Financial Group plans to invest more than 10% of its capital, it disclosed the proposal under Japan's Financial Instruments and Exchange Act, according to Banking Dive. Earlier, American Banker reported that Sony partnered with California-based Bastion Platforms in December 2025. Bastion is expected to act as issuer, custodian, and reserve manager after the token launches, while it also seeks its own national trust charter.
Roman Goldstein, director at Klaros Group and a former OCC regulator, described Sony's project as the first commercial-conglomerate ecosystem bank. He added that the charter would make Sony the issuer of record. As a result, Sony would communicate directly with regulators and oversee its own compliance program. Goldstein also noted that the charter would allow Sony to earn income from reserve assets.
He added that the structure could position Sony to qualify under the GENIUS Act in the future. Without its own charter, Sony would instead rely on another company's license and assume that firm's regulatory risks.
FS Vector principal Evey Guo also said the federal charter would allow Sony to manage issuance, custody, transfers, and redemption under one federal supervisor instead of depending on third-party providers and money-transmitter licenses.
Sony plans to integrate the stablecoins into its own ecosystem. According to American Banker, the company expects to use the tokens for treasury management, cross-border payments, and purchases across its gaming, anime, movie, and music businesses while reducing payment processing costs.
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The proposal has faced scrutiny since October 2025. The Bank Policy Institute questioned whether the charter could blur the long-standing separation between commerce and banking. Likewise, the Independent Community Bankers of America argued that the trust would not carry deposit insurance. The group also warned that regulators had not tested this framework for an institution of Sony's size.
The National Community Reinvestment Coalition also argued that approving Connectia could create a two-tier chartering system by granting digital asset firms federal status without equivalent public obligations.
Nevertheless, the OCC moved forward under its current legal interpretation. Goldstein said regulators may also require Connectia to appoint a full-time chief financial officer before operations begin. Sony still needs final OCC approval, clearance from Japanese regulators, and leadership for the new trust before Connectia can launch its planned stablecoin business in 2027.
Sony Bank secured preliminary OCC approval to establish Connectia Trust for issuing and managing a dollar stablecoin. The project targets a 2027 launch after final approvals from U.S. and Japanese regulators. The move places Sony among the major firms seeking federal trust charters for digital asset operations while regulatory debate continues.
