Sony Bank to Launch USD-Pegged Stablecoin by Early 2026

Sony Bank, the financial branch of the technology leader Sony, is set to introduce its US dollar-pegged stablecoin, regulated by GENIUS, to US customers as early as fiscal 2026, according to a report from Nikkei on Monday.

Key Takeaways

Sony Bank plans to launch a US dollar-pegged stablecoin, approved by GENIUS, for US customers by fiscal 2026.
The stablecoin aims to facilitate payments within Sony's gaming and anime sectors, potentially reducing transaction fees for customers.
Sony has applied for a national crypto bank charter, which is facing opposition from community banking representatives.
The stablecoin market is growing swiftly, with significant capital already concentrated in existing USD-pegged cryptocurrencies.
Market predictions suggest a substantial influx of funds from emerging markets into stablecoins by 2028, highlighting the strategic importance of Sony’s entry into this space.

Sony stablecoin

The company’s plan involves launching a 1:1 USD-pegged stablecoin for transactions and settlements within its gaming and anime sectors. Previously, Sony customers have relied on credit cards and other payment methods for subscriptions. The introduction of a stablecoin could help lower fees associated with credit card transactions.

Sony's Stablecoin Initiative and Potential Hurdles

In a surprising move, Sony applied in October to the Office of the Comptroller of the Currency (OCC) to create a national crypto bank charter through its subsidiary “Connectia Trust.” Should the OCC approve this application, Sony would join the ranks of major tech companies that have received a stablecoin-related US bank charter.

However, on November 6, the Independent Community Bankers of America (ICBA) issued a letter expressing strong opposition to Sony Bank’s application. The ICBA argued that Sony’s approach seemed designed to gain the advantages of a US bank charter while avoiding full compliance with U.S. banking regulations. They contended that Connectia’s business model goes beyond the traditional scope of trust banks and that approval would undermine the historical separation between banking and commerce, ultimately threatening the interests of community banks.

Rapid Expansion of the US Stablecoin Market

This announcement comes at a critical time when stablecoins are having an increasing impact on international financial systems and the stability of U.S. fiscal policies. As reported by DefiLlama, the combined market capitalization of two leading USD-pegged stablecoins—Tether’s USDT and Circle’s USDC—reaches $260 billion. Furthermore, the total market capitalization of stablecoins has now surpassed $306 billion.

A recent alarming forecast from Standard Chartered warned that over $1 trillion could move from emerging market banks into stablecoins by 2028, driven by the global rise in adoption of dollar-pegged cryptocurrencies. This positions Sony’s foray into the market as well-timed for a rapidly expanding digital economy sector.