The New York-based subsidiary, entirely owned by Sony Bank, will launch with a capitalization of $40 million to facilitate its stablecoin operations.
By Francisco Rodrigues|Edited by Sheldon Reback Jul 9, 2026, 9:49 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Technology leader Sony is preparing to enter the U.S. stablecoin sector. (Da-shika/Unsplash)SummaryShow- Sony Bank has obtained preliminary conditional approval from the OCC to create Connectia Trust, a U.S. subsidiary focused on managing dollar-pegged stablecoins.
- This New York-based entity, fully owned by Sony Bank, will be established with $40 million to support its upcoming stablecoin activities.
- However, operations are currently paused, pending necessary final regulatory approvals as the U.S. formulates a comprehensive stablecoin framework.
Technology giant Sony's banking division announced that it has received conditional authorization to set up a U.S. national trust bank subsidiary aimed at managing and issuing dollar-denominated stablecoins.
The proposed subsidiary, named Connectia Trust, National Association, will be situated in New York and will commence with a capitalization of $40 million, as indicated in a Sony Financial Group statement. Sony Bank will retain full ownership of this new entity.
This development comes amid a surge in stablecoin adoption, with transaction volumes reaching a record $1.79 trillion last month, marking a 63% increase from May and more than double the figures from the same month last year, as reported by Visa’s onchain dashboard.
Dollar-pegged tokens make up over 99% of the overall $311 billion market capitalization, according to data from DeFiLlama, indicating a challenging landscape for new entrants.
The leading stablecoins, USDT and USDC, together represent approximately $250 billion of this total, and competition is intensifying. Numerous potential competitors have also secured conditional approval from the Office of the Comptroller of the Currency (OCC) for federal trust bank structures related to stablecoin operations, including companies like Bridge (owned by Stripe), Paxos, and Circle Internet.
Sony's trust bank will not initiate its operations, including stablecoin issuance, until it has received all necessary approvals, including the final authorization from the OCC, as stated by Sony Financial.
This initiative follows Sony Bank's earlier intentions to launch a stablecoin designed for transactions in gaming and anime.
The OCC's approval is provisional and does not guarantee a specific launch date or the issuance of tokens. This application coincides with U.S. regulators advancing stablecoin regulations under the GENIUS Act, which aims to create a comprehensive federal framework for payment stablecoins.
banksStablecoinsRegulationRelated AssetsBitcoin$62,886.811.39%Latest Crypto News- 1Crypto trader applies legendary HODL strategy to EUR/USD forex bet 9 minutes ago
- 2Two blockbuster AI IPO's on the horizon could leave crypto further behind29 minutes ago
- 3Bitcoin's dwindling exchange reserves don't pack the same bullish punch anymore1 hour ago
- 4Live markets: Second day of U.S, Iran conflict keeps markets volatile as oil drops3 hours ago
- 5Bank of Japan may speed up rate hikes, pushing borrowing costs above 2%, ex-BOJ official warns3 hours ago
- 6'CASHCAT' trader turns $800 into over $1 million on Robinhood's brand new blockchain3 hours ago
- 7XRP holds near $1.10 as traders watch long-term breakout setup4 hours ago
- 8Bitcoin, ether steady, gold slides as U.S.-Iran tensions escalate again5 hours ago
- 9Polymarket bets on U.S. marketing blitz to win back trust after 4-year ban: Report18 hours ago
- 10Crypto Long & Short: With MSTR concerns assuaged, look to traditional signals around BTC18 hours ago
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
By CoinDesk ResearchJul 7, 2026Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Why it matters:
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
View Full ReportMore From Finance