Sony Bank Enters the Stablecoin Race: A Significant Signal for the Maturity of the Crypto Market
The banking division of Sony Group (#sonybank ) is seeking to obtain a national banking license for its subsidiary Connectia Trust from the Office of the Comptroller of the Currency (OCC) in the United States. This move aims to allow Sony Bank to participate in the booming stablecoin market, a major step confirming the maturity and legitimization of digital assets.
Goals and Favorable Regulatory Context
According to the application, Connectia Trust intends to issue a stablecoin pegged to the US Dollar, managing corresponding reserve assets, while also providing custody and digital asset management services. This application adds to the growing list of major players in the crypto and fintech space seeking an OCC banking license, including Stripe, Coinbase, Paxos, and Circle.
This push occurs in the context of a more favorable legal environment in the US for the industry. Notably, after the passage of the GENIUS Act, which officially established a regulatory framework for the issuance and trading of stablecoins, a wave of powerful companies has rushed into the market. With the total market capitalization of stablecoins currently reaching $312 billion USD and expected to continue growing, Sony Bank's participation at this time represents a significant opportunity and is a testament to the continuous development of digital finance. #anh_ba_cong
