Sony Eyes Major Leap into Crypto Banking with US Charter Application
Tech giant Sony is poised to make a significant entry into the cryptocurrency banking sector, as its financial arm, Sony Bank, has officially applied for a national banking charter in the United States. This strategic move, facilitated through its subsidiary Connecticut Trust, signals Sony's intent to become a key player in the evolving digital asset landscape.
Pursuing OCC Approval for Comprehensive Crypto Services
The application submitted to the Office of the Comptroller of the Currency (OCC) outlines Sony's ambition to engage in a range of crypto-related activities. These include the issuance of US dollar-backed stablecoins, meticulous maintenance of reserves, and offering specialized custody and fiduciary management services for digital assets to a select clientele. Sony emphasizes that its proposed banking activities align with those already approved for other nationally chartered financial institutions, positioning itself alongside prominent firms like Stripe, Coinbase, Paxos, and Circle, which are also pursuing similar federal crypto banking licenses. Should the application be granted, Sony's Connecticut Trust could emerge as one of the pioneering tech-bank hybrids authorized to issue regulated stablecoins in the U.S., a sector where Anchorage Digital Bank currently stands as the sole fully approved entity.
Strengthening its Digital Asset Footprint
This latest initiative is not Sony's first foray into the digital asset realm. Earlier in 2025, the company collaborated with Startale Labs to launch Sonelium, an Ethereum Layer-2 (L2) network designed to bolster decentralized applications. With the new banking charter application, Sony aims to integrate its extensive financial expertise with cutting-edge blockchain technology. This synergistic approach is expected to significantly expand Sony's influence and presence within the global digital asset ecosystem, reinforcing its commitment to innovation in the fintech space.
