Sony Bank Gets OCC Approval For U. S. Stablecoin Trust
You are here:Home/Cryptocurrency News/Sony Bank Gets OCC Approval for U. S. Stablecoin TrustSony Bank moved closer to a U. S. stablecoin launch after receiving conditional approval to create a national trust. . .
You are here:Home/Cryptocurrency News/Sony Bank Gets OCC Approval for U. S. Stablecoin TrustSony Bank moved closer to a U. S. stablecoin launch after receiving conditional approval to create a national trust bank subsidiary. The unit will be called Connectia Trust. It will issue and manage a dollar-denominated stablecoin after final regulatory clearance. According to astatement, the Japanese lender said the subsidiary will be formed in July as a wholly owned unit. It will begin with $40 million in capital. Sony Bank said the structure is meant to support Sony Financial Group’s wider digital asset plans. Connectia Trust is expected to start operations in 2027, according to the company statement. The new entity has not yet named a representative. Its planned work remains tied to final approval from the Office of the Comptroller of the Currency. Also Read:Kraken Extends MiCA Licence Lead With $400M Spot LiquidityHow Sony Bank Plans to Use Its Dollar StablecoinAccording to Sony Bank, no activities will be started until receiving the necessary permissions. This concerns the issuance of a stablecoin as well as trust operations. Moreover, the subsidiary has to obtain a final OCC approval before proceeding further. It should be noted that the approval has been granted against the backdrop of plans announced at the very beginning of Sony applying for a U. S. national trust bank charter through Connectia Trust. As previouslyreported, the proposed stablecoin would be pegged 1:1 to the US dollar. According to the initial reports, the stablecoin would have allowed American customers to use their stablecoins for purchasing video games, anime, subscriptions, and digital content. Sony Bank has also explored stablecoin links in Japan. In March, Sony Banksignedan agreement with JPYC Inc. to explore stablecoin-related cooperation. The agreement was concluded concerning researching the possibility to create a yen-pegged stablecoin linked directly to the bank’s deposit rails. What Is Delaying the CLARITY Act in CongressThe digital asset companies are seeking to receive more federal supervision in the US. BitGo hasreceivedfull OCC approval to convert from a state-chartered entity into a federally chartered national trust bank. U. S. crypto legislation is still uncertain despite pressure from the industry. The CLARITY Act did not make progress in Congress, forcing Galaxy Digital toreduceits probability of passage in 2026 to 50%. The legislation is expected to be discussed at a House hearing on July 17. According to Galaxy’s head of research, Alex Thorn, the lack of floor time could prevent the bill’s passage. The Senate is expected to go on recess on Aug. 8 to spend four weeks out of session. The bill was approved by the Senate Banking Committee in May but encountered opposition. Democrats and part of the banking industry raised issues about yield-bearing stablecoin products. Why Banks Oppose Crypto Yield-Bearing ProductsAccording to the critics, crypto companies should not offer products of that kind without bank-level compliance. In early June, more than 200 crypto companies and related associationscalledon the Senate to approve the bill. The letter was released by Stand With Crypto, a crypto lobbying group. Stand With Crypto and over 200 organizations sent a simple message to Senate leadership: it's time for the Clarity Act. The community is unified — large companies, startups, associations, and grassroots groups across the country are counting on their lawmakers to deliver rules…pic. twitter. com/oJJA3rkP1N— Stand With Crypto🛡️ (@standwithcrypto)June 8, 2026JPMorgan CEO Jamie Dimonsaidin May that banks will oppose the proposed CLARITY Act. He also said that companies developing plans to release yield-bearing products should obtain a banking charter. Also Read:Robinhood Chain Hits $563 Million Uniswap VolumeAboutYahya Raza SheraziYahya Raza is a Technology Analyst at Tronweekly, covering cryptocurrency markets, blockchain-related developments, and digital asset regulations. He has over one year of experience reporting on Bitcoin, altcoins, and broader crypto market trends. His reporting focuses on market movements, crypto scams and hacks, security-related incidents, and regulatory developments, examining how technological risks and policy actions impact the crypto ecosystem. Yahya tracks ongoing market activity and industry updates using verified data and official sources. Yahya’s work is written for both beginners and experienced readers, with an emphasis on clear, accurate reporting on crypto markets, technology-related risks, and regulatory changes, without speculation or investment guidance. 🔗 Connect on LinkedIn