Sony Bank Wins OCC Approval for US Stablecoin Operations

Sony Bank has received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank subsidiary in the United States. The planned unit targets issuance and management of U.S. dollar-denominated stablecoins, not deposit or lending business.

The license application for the proposed national trust bank is intended for businesses such as issuing and operating stablecoins in the United States, and not for conducting conventional banking activities like taking deposits or making loans.

Sony Bank aims to support Sony Group companies' U.S. business development from the financial side and contribute to creators and fan communities through services suited to the digital era.

The planned 2027 opening of the U.S. trust subsidiary is subject to obtaining necessary approvals from Japanese and U.S. authorities, according to Sony Bank's release.