Sony Bank received preliminary approval from the Office of the Comptroller of the Currency to establish a US stablecoin issuance business, with $40 million in starting capital.
The post Sony Bank Wins OCC Approval to Launch US Dollar Stablecoin via $40M Trust Unit appeared on BitcoinEthereumNews.com.
Crypto News Sony Bank, the internet-banking arm of Japan’s Sony Financial Group, has secured preliminary conditional approval from the United States Office of the Comptroller of the Currency (OCC) to form a national trust bank subsidiary built to issue and operate a US dollar stablecoin. The clearance, disclosed on July 7 local time, is a procedural milestone rather than a final license. Our reading of the filing is deliberately narrow in scope: the OCC approval covers only the chartering pathway, not live issuance. Sony Bank confirmed it will not mint or circulate any token until every remaining authorization is granted, positioning the move as the opening step in a longer regulatory process. The new entity will be named Connectia Trust, National Association, and it is structured as a special-purpose trust bank rather than a conventional lender. According to the
Sony Bank wins conditional OCC approval for Connectia Trust, a $40M national trust bank set to issue a dollar-backed stablecoin by 2027.
The post Sony Approved to Launch Sony Stablecoin appeared first on 99Bitcoins.
Mexico's cooling inflation may boost economic stability, potentially enhancing the appeal of stablecoins for cross-border remittances.
The post Mexico’s inflation slows to lowest rate since 2020, easing pressure on central bank appeared first on Crypto Briefing.
The post Sony Bank Secures Preliminary Approval for US Stablecoin Business appeared on BitcoinEthereumNews.com.
Sony Bank, a subsidiary of Sony Financial Group, said it’s received preliminary approval to establish a new US national trust bank subsidiary that will issue US dollar-denominated stablecoins. The new unit, Connectia Trust, National Association, gained preliminary approval from the Office of the Comptroller of the Currency (OCC) on July 2. It will be fully owned by Sony Bank and will support the issuance and management of US dollar-denominated stablecoins, according to a Monday announcement by Sony Financial Group. The approval signals Sony’s entry into regulated US stablecoin issuance, part of a long-term digital asset business foundation, which it is backing with $40 million in starting capital. Sony Bank said that no business activities or stablecoin issuance will be conducted until all approvals and authorizations are received, including the final approval from the OCC. T
The post EU Set to Revise MiCA in 2027 to Cover Foreign Stablecoin Issuers appeared on BitcoinEthereumNews.com.
In brief The EU is preparing to reopen its Markets in Crypto-Assets (MiCA) rulebook, likely in 2027, to regulate non-EU stablecoin issuers and broaden its scope, EU diplomats told Euronews. The push follows the U.S. GENIUS Act and President Trump’s promotion of dollar-backed stablecoins, which make up 95% of the market. The European Commission is consulting stakeholders until September 30 before deciding whether to formally reopen the law. The European Union is preparing to reopen its flagship crypto rulebook to bring non-EU stablecoin issuers under its supervision, as U.S. President Donald Trump’s embrace of dollar-pegged tokens unsettles European regulators, Euronews reported, citing several EU diplomats. MiCA, the bloc’s landmark crypto framework, only fully came into force on July 1, but officials already see a rewrite as inevitable. “Reopening the file seems unavoidable
The post Hyundai Card Turns $20,000 Stablecoin Test Into Real-World Remittance as Europe Trial Draws Closer appeared on BitcoinEthereumNews.com.
Key Takeaways Hyundai Card slashed cross-border payment times to 7 minutes in a $20,000 corporate stablecoin test. Tether, Avalanche, and Axiym backed the pilot, marking a historic first for the South Korean card industry. A second pilot launches later this month with Circle and Visa to test local currencies across European units. Shaving Hours off Transaction Times Hyundai Card successfully tested stablecoin-based cross-border payments between Hyundai Motor Group subsidiaries in North America, slashing transaction times from hours to minutes, the card issuer recently disclosed. The proof-of-concept (PoC) test involved transferring funds between California-based Hyundai Motor America and Hyundai Motor Mexico. During the pilot, the U.S. unit converted $20,000 into dollar-based stablecoins and transmitted them to the Mexican affiliate, where the
Hyundai Motor America converted $20,000 into stablecoins and transferred them to Hyundai Motor Mexico, where they were exchanged back into U.S. dollars. Shaving Hours off Transaction Times Hyundai Card successfully tested stablecoin-based cross-border payments between Hyundai Motor Group subsidiaries in North America, slashing transaction times from hours to minutes, the card issuer recently disclosed. The […]
