Sony Bank has received its provisional approval to become a bank.
OCC has officially given Sony’s subsidiary intended to become a national trust banking association a provisional approval for its planned U.S. operations. The New York-based Connectia Trust would be looking to issue a U.S. Dollar stablecoin and offer stablecoin custody services to clients.
Sony stablecoin application to the OCC was originally filed in 2025 and is one of the few candidates that represents the technology space more broadly than financial services. According to a blog post, law firm Sidley is representing Sony Bank throughout this process.
Its interest in stablecoin issuance can linked to the continued rise in gaming popularity worldwide. Around 90M PlayStation 5 consoles have been sold to date, while for gaming software, this sits at 1.64B (both data taken from Sony Interactive’s Business Data & Sales metrics from March 2026).
Gaming payments can include store gaming purchases, top-ups, and royalty payouts to creators.
Currently, PlayStation accepts a number of cards including American Express, Visa, Mastercard, PayPal, Apple Pay, and other forms of mobile payments. With Sony’s plans, stablecoin checkouts could be also accepted.
Aside from this, a Sony-branded stablecoin could mean better economic incentives for the corporation from using their own stablecoin in the form of earned interest on reserves, rewards, as well as broader international treasury management capabilities between Japan, U.S., and its other global branches.
