The online lending subsidiary of Sony Financial Group filed for a U.S. banking license in October to establish a stablecoin-focused subsidiary.
Stablecoin News
Sony Bank is preparing to introduce a dollar-pegged stablecoin in 2026 that will enable cryptocurrency payments for PlayStation games, subscriptions, and anime content across its U.S. operations.
The online lending subsidiary of Sony Financial Group filed for a U.S. banking license in October to establish a stablecoin-focused subsidiary. The initiative targets American customers who represent roughly 30% of Sony Group's external sales, according to a Monday report from Nikkei.
The stablecoin will function alongside traditional payment methods like credit cards. Sony expects the digital currency to reduce transaction fees paid to card networks while expanding payment flexibility for users purchasing digital content.
Sony Bank has partnered with U.S. stablecoin issuer Bastion to develop the project. Sony's venture arm participated in Bastion's $14.6 million funding round led by Coinbase Ventures, strengthening the partnership between the two firms.
The bank established a dedicated Web3 subsidiary called BlockBloom in June with initial capital of 300 million yen ($1.9 million). The unit aims to create an ecosystem that connects fans, artists, NFTs and both fiat and digital currencies, according to company statements.
Sony Bank emphasized in May that digital assets utilizing blockchain technology are being incorporated into diverse services and business models. The bank noted that financial services like wallets for storing NFT and Bitcoin assets are becoming increasingly important in the evolving digital economy.
The stablecoin initiative follows Sony Financial Group's separation from Sony Group and listing on the Tokyo Stock Exchange in September. The spin-off was designed to decouple the financial arm's operations from the broader conglomerate, allowing each entity to pursue focused strategic objectives.
Sony Bank has been operating in Singapore since 2017 and views the region as pivotal to its global Web3 expansion. The company did not respond to requests for comment regarding specific launch timelines or technical specifications for the planned stablecoin.
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