Sony Bank Pursues OCC Charter to Issue US Dollar-Pegged Stablecoins
Sony Bank has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter to issue and manage US dollar-pegged stablecoins under federal regulation. By securing this OCC charter, Sony Bank will oversee reserve assets and expand digital asset custody and portfolio management through its Connectia Trust unit. This OCC charter bid follows similar approvals for US Bank’s stablecoin custody service and Bridge’s federal charter application, reflecting a wider push for regulated stablecoins. By joining firms like Stripe, Circle and Anchorage Digital Bank, Sony Bank seeks to capitalize on the growing $312 billion stablecoin market, leveraging GENIUS Act compliance to boost market confidence and support tokenized payments.
Bullish
Sony Bank’s OCC charter application signals growing institutional support for regulated stablecoins. In the short term, the bid may boost market confidence by reinforcing regulatory clarity, leading to increased stablecoin adoption and liquidity. Over the long term, Sony Bank’s entry alongside established players like Anchorage Digital Bank and Circle could drive competition, enhance custody services and expand tokenized payment infrastructure, underpinning broader market growth.