Sony Bank wins conditional OCC approval for US dollar stablecoin trust bank
The post Sony Bank wins conditional OCC approval for US dollar stablecoin trust bank appeared on BitcoinEthereumNews.com. Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, moving it closer to issuing a U.S. dollar-backed stablecoin through a new American subsidiary. Summary Sony Bank has received conditional OCC approval to establish Connectia Trust for a planned US dollar stablecoin. The proposed stablecoin is expected to support payments for games, subscriptions and other digital content across Sony’s ecosystem. Sony joins a growing list of firms pursuing OCC trust bank charters as debate over stablecoin regulation continues. According to a July 6 statement from Sony Bank, the Japanese lender plans to establish Connectia Trust this month as a wholly owned subsidiary with $40 million in capital. The entity is expected to issue and manage a dollar-denominated stablecoin once it receives final regulator