Sony Bank’s subsidiary, Connectia Trust, has applied to the Office of the Comptroller of the Currency (OCC) for a trust bank license. If approved, this will allow the organization not only to expand its range of financial services but also to launch its own stablecoin pegged to the US dollar.
This is reported by Finway
Sony Bank’s Strategy in the US Cryptocurrency Market
Connectia Trust officially confirmed the submission of its application on October 7, 2025. According to OCC procedures, the comment period for this matter will last until November 7. The company plans to focus primarily on cryptocurrency services.
“These include the issuance of dollar-pegged stablecoins, maintaining corresponding reserve assets, providing non-fiduciary digital asset custody services, and offering asset management services as a fiduciary to certain affiliated parties.”
If Connectia Trust receives the license, the company will be able to issue stablecoins, hold digital assets without fiduciary responsibility, and manage the assets of affiliated parties in a fiduciary capacity. These areas will be key in expanding Sony Bank’s presence in the US financial sector.
Competition and Market Reaction
Sony Bank is part of the international conglomerate Sony Group, known for its wide range of business interests. At this time, neither company representatives nor the OCC have provided official comments regarding the application review process.
Currently, the only organization that has already received an OCC license is Anchorage Digital Bank. It was registered back in 2021 but received a cease-and-desist order from the regulator in 2022. This order was only lifted in August 2025.
In addition to Sony, other major players, including the exchange Coinbase and Ripple Labs, which is behind the development of the XRP Ledger, are also vying for a trust bank license. Both companies do not intend to engage in traditional banking activities but view the license as an important step toward creating innovative products, optimizing transactions, and operating within the legal framework of the US.
At the same time, the American Bankers Association opposes allowing cryptocurrency companies to obtain such licenses. The association believes that these entities do not meet the stringent requirements necessary for trust bank status and urges the OCC to reject the relevant applications.