Sony Bank to Establish Trust Subsidiary in U.S., Preparing to Issue Dollar-Denominated Stablecoin

Sony Financial Group (Sony FG) announced that its consolidated subsidiary, Sony Bank, will establish a trust subsidiary in the United States for the issuance and management of a dollar-denominated stablecoin. The company has already obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) and plans to establish the subsidiary in July 2026. The move is aimed at building a mid-to-long-term foundation for the group's digital asset business.

According to the announcement, Sony Bank submitted an application to the OCC to establish a trust subsidiary and received conditional approval as part of the review process. The new company will be 100% owned by Sony Bank, with establishment scheduled for July 2026. However, the company will not commence operations, including the issuance of stablecoins, until it obtains final approval from the OCC and other relevant regulatory authorities.

Sony FG stated that the establishment of this subsidiary "will contribute to building a mid-to-long-term foundation for the group's digital asset business." The impact on consolidated results for the fiscal year ending March 2027 is expected to be minimal.

In December 2025, Sony Bank announced a business partnership with U.S.-based Bastion Platforms to explore the commercialization of a dollar-denominated stablecoin business in the United States. The establishment of this trust subsidiary represents a concrete step in that direction.

Stablecoins are crypto assets designed to maintain a stable value by being pegged to a fiat currency—in this case, the U.S. dollar—offering greater stability compared to highly volatile cryptocurrencies like Bitcoin. Their use for international remittances and payment settlement is expanding globally, and this move by a major Japanese financial group to enter the U.S. market in earnest is drawing significant attention.

Sony Bank has been proactive in leveraging digital technology for financial services, and this U.S. stablecoin initiative is expected to be positioned as a core element of its digital asset strategy that extends beyond the scope of domestic banking operations. If final OCC approval is obtained, this could become a pioneering case of a Japanese banking-affiliated entity issuing a stablecoin in the United States.