Sony Seeks US Crypto Banking License via Connectia Trust

Sony Bank’s subsidiary, Connectia Trust, has formally submitted an application to the Office of the Comptroller of the Currency (OCC) for a national banking charter, marking a significant expansion of the Japanese technology giant’s financial ambitions. The application details Sony’s intent to engage in various cryptocurrency-related activities, including the issuance of US dollar-backed stablecoins, maintaining reserves, and providing custody and fiduciary management services for digital assets to select clients. This represents a calculated move by Sony to leverage its financial expertise while entering the rapidly evolving digital asset ecosystem.

In its filing with the OCC, Sony emphasized that its proposed activities align with those already approved for other nationally chartered banks, positioning the application as consistent with existing regulatory frameworks. The company’s approach demonstrates a careful understanding of regulatory expectations, suggesting Sony aims to build trust through compliance rather than challenging established banking norms. This strategic positioning could prove crucial in navigating the complex regulatory landscape surrounding digital assets in the United States.

Should Sony’s application be approved, the company would join a select group of prominent firms pursuing federal crypto banking licenses, including payment processor Stripe, cryptocurrency exchange Coinbase (COIN), blockchain infrastructure company Paxos, and stablecoin issuer Circle (CRCL). Currently, Anchorage Digital Bank stands as the only entity to have received full approval from the OCC for such activities, highlighting the competitive and regulatory significance of Sony’s application.

The approval of Connectia Trust would position Sony as one of the first major technology companies authorized to issue regulated stablecoins in the United States, creating a unique tech-bank hybrid model. This distinction carries substantial implications for the broader cryptocurrency industry, as it would bring Sony’s substantial resources and technological expertise to bear on the development of regulated digital asset services. The move reflects growing institutional interest in bridging traditional finance with blockchain technology.

Sony’s venture into crypto banking through Connectia Trust represents an extension of the company’s ongoing digital asset strategy rather than an entirely new direction. Earlier in 2025, Sony collaborated with Startale Labs to introduce Soneiun, an Ethereum Layer-2 (L2) network specifically designed to enhance decentralized applications. This previous initiative demonstrated Sony’s commitment to blockchain infrastructure development and positioned the company as a serious participant in the Web3 ecosystem.

The Connectia Trust application now enables Sony to synergize its financial services expertise with its blockchain technology investments, creating a comprehensive digital asset ecosystem that spans both infrastructure and financial services. This integrated approach allows Sony to leverage its existing technological capabilities while expanding into new revenue streams within the rapidly growing digital asset market. The combination of banking services with blockchain technology represents a natural evolution for a company with Sony’s diverse technological portfolio.

This strategic expansion reflects Sony’s broader vision of establishing itself as a significant player in the global digital asset ecosystem. By combining traditional financial services with cutting-edge blockchain technology, Sony appears positioned to offer institutional and select retail clients a comprehensive suite of digital asset solutions. The success of this application could potentially reshape how major technology companies approach financial services and digital assets in the coming years.