Hey! I'm sure you've seen the news about Sony and cryptocurrency. Let's break down what's actually happening—it's more interesting than it seems at first glance.
What's going on?
Sony Bank (yes, the conglomerate has its own banking division) has applied to create a subsidiary company called Connectia Trust. If regulators approve, the company will be able to:
Issue stablecoins—digital dollars pegged to the USD.
Store cryptocurrencies and other digital assets for clients.
Manage digital assets for both clients and other Sony subsidiaries.
Why now?
The US passed the GENIUS Act, which for the first time established clear rules for issuing stablecoins. This was a green light for major corporations—they now understand how to operate in this market legally.
Furthermore, the stablecoin market is already huge—over $312 billion—and experts predict it will grow to $360 billion by 2026. Sony is entering at the right time, when the rules are clear and the market is still expanding.
Who else is in the game?
Sony isn't alone in its ambitions:
Coinbase and Circle are already well-established in this space.
Stripe and Paxos have also applied for banking licenses.
Anchorage Digital Bank became the first fully approved crypto bank, although it faced some regulatory hurdles along the way.
What does this have to do with PlayStation?
Right now, directly—nothing. Sony Bank and the gaming division are separate businesses within the larger conglomerate. But this isn't Sony's first interest in blockchain technology. Last year, the company launched a joint project called Soneiun, its own blockchain network based on Ethereum. It seems Sony is systematically exploring this field.
What does this mean in the long run?
The entry of a tech giant like Sony could seriously change the perception of the crypto industry. When companies with global reputations start working with digital assets, it adds legitimacy to the entire sector and could attract new users.
What do you think? Can Sony compete with current stablecoin market leaders? And could this eventually impact regular users—for example, through integration with gaming services or other company products?
