Sony To Set Up U.S. Stablecoin Trust Bank

CryptoProwl

Thu, July 9, 2026 at 6:38 AM PDT 1 min read

Japanese technology giant Sony (NYSE: $SONY) has received approval to establish a U.S. national trust bank subsidiary to support the issuance of dollar-denominated stablecoins.

The new trust bank will be run out for Sony's existing online bank unit and based in New York City. It will be capitalized with $40 million U.S. and Sony Bank will own 100% of the subsidiary.

The move comes as stablecoin usage grows around the world. Stablecoin transaction volume hit a record $1.79 trillion U.S. in June of this year, according to data from Visa (NYSE: $V). 

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Stablecoins are cryptocurrencies whose value is pegged to an underlying asset, typically the U.S. dollar. 

The rapid growth has led to an increase in competition for stablecoin issuance. 

Several other companies have received U.S. regulatory approval to establish federal trust bank structures tied to stablecoins, including Paxos and Circle Internet Group (NYSE: $CRCL).

Sony has said that it plans to eventually issue its own stablecoin for use in video games and anime payments.

U.S. regulators have been moving ahead with stablecoin regulations under the GENIUS Act, which establishes a federal framework for stablecoins and other digital assets.

SONY stock has declined 18% this year to trade at $21.15 U.S. per share.