Sony’s Big Bet: Entering the Crypto‑Banking Arena

When a household name like Sony quietly files for a U.S. crypto banking charter, it’s worth paying attention. That’s exactly what’s happening now: Sony Bank, via its subsidiary Connectia Trust, is applying to the U.S. Office of the Comptroller of the Currency (OCC) for a national banking charter to issue stablecoins and offer custody of digital assets.

If approved, Sony would shift from a tech and entertainment giant dabbling in Web3 to a full-fledged participant in regulated crypto finance. Let’s break down what it means—and what challenges lie ahead.

A Calculated Step Into Regulated Crypto Land

Sony’s plan isn’t to become a speculative crypto exchange, but to integrate regulated financial functions with digital assets. According to the filing, Connectia Trust would issue U.S. dollar–pegged stablecoins, maintain requisite reserves, and offer non‑fiduciary custody and digital asset management services to affiliated clients. It would operate under the “specified cryptocurrency activities” allowed under existing OCC guidance for national banks.

This is a far more conservative posture than high-risk trading or yield farming: it’s about combining the stability of banking with the infrastructure of crypto. Sony may be aiming to bridge its strengths in digital platforms, entertainment, and brand trust with financial infrastructure. In 2025 alone, Sony has already planted seeds in blockchain by partnering with Startale Labs to launch an Ethereum Layer‑2 network named Soneiun. And earlier in October, Sony spun off BlockBloom Inc. under its banking arm to deepen its Web3 offerings, such as NFTs and tokenization.

In short, Sony is assembling the pillars—tech, finance, and blockchain—to support a crypto‑bank hybrid.

Why Now? Regulation, Market Timing and Competitive Stakes

Regulatory Clarity

Regulation has long been the biggest barrier for crypto-native firms. But the passage of the GENIUS Act in the U.S. changed the game by codifying standards for issuers of stablecoins, including requirements for 100 percent reserves and monthly disclosures. This clears a path for more traditional and regulated entrants.

Sony’s filing underscores that its proposed crypto activities align with those already approved for other nationally chartered banks. The goal is to operate under federal supervision, not a patchwork of state-level crypto regulation.

Stablecoins Going Mainstream

Stablecoins are no longer fringe. They’re now critical infrastructure in crypto for liquidity, payments, and cross-border flows. The stablecoin market is already over $312 billion, and some analytics platforms suggest there’s a strong chance it could hit $360 billion by early 2026. Sony isn’t late to the party, but it’s entering strategically before the market saturates.

A Crowded Field of Applicants

Sony joins a growing list of tech and crypto firms applying for OCC charters, including Stripe, Coinbase, Paxos, and Circle. But so far, Anchorage Digital Bank remains the only entity to secure a de novo OCC charter. If approved, Sony would become one of the first big tech groups to straddle both finance and crypto under federal oversight.

Risks, Hurdles and What Could Go Wrong

This is not a sure bet. The OCC is notoriously cautious, especially when it comes to granting new national charters involving crypto. Complying with full reserves and transparency rules is also capital-intensive, and Sony will need to maintain strict operational standards to avoid regulatory backlash.

Reputation risk is another factor. As a global consumer brand, Sony could face significant public fallout if anything goes wrong—whether it’s a custody failure or mishandling of digital assets. Then there’s the question of competition. Sony will have to differentiate itself from both crypto-native firms and established banks already experimenting with tokenization and digital finance.

What’s Next—And Why It Matters

Should Connectia Trust be approved, two big outcomes are likely. First, Sony would position itself as a tech‑finance pioneer, a rare company straddling consumer electronics, entertainment, and regulated crypto banking. Second, the entrance of a major global brand into stablecoin issuance could lend institutional legitimacy to an often-criticized segment of the crypto economy.

Of course, approval is not guaranteed. But by applying now, Sony is placing a strategic stake in the future of digital finance—one where the line between tech and banking grows ever thinner.