OCC Grants Conditional Approval for Sony Trust to Issue Stablecoin

On July 2 the U.S. Office of the Comptroller of the Currency granted preliminary conditional approval to Connectia Trust, a proposed trust wholly owned by Sony Bank. The filing describes the trust as able to issue a dollar-backed stablecoin, hold reserves, offer custody services and facilitate transfers on a restricted payments network limited to Sony Group platforms and approved customers.

According to the filing, Connectia Trust’s customers would include U.S. retail users who already have relationships with Sony Group or its subsidiaries, as well as Sony Group companies. The network in the filing is closed and permissioned, supporting transfers inside that defined system rather than enabling a cryptocurrency usable across the open internet.

The application does not name any consumer product. It does not reference PlayStation, the PlayStation Store or the purchase of games, and it refers broadly to “Sony Group properties” rather than identifying specific services. For a PlayStation purchase flow to exist, Sony would need to designate which products would join the network, which customers could participate and what they could buy.

The OCC’s action is a preliminary conditional approval, not a final authorization. The proposed trust must meet pre-opening requirements and receive final OCC approval before it can begin business. Sony Bank said it is preparing for a possible 2027 opening subject to required approvals and noted, “Neither the opening date nor stablecoin issuance is guaranteed.”

Sony completed a partial spin-off of its financial-services business in October 2025 and retained a 16.40% stake in Sony Financial Group, according to corporate filings. That change means coordination between Sony Group units and Sony Financial Group could occur under different corporate arrangements; the OCC approval for Connectia Trust is one regulatory element among others that would be needed to deploy consumer payment flows.

The proposed trust emphasizes permissioned access, reserve management and custody inside a closed network limited to approved Sony properties and defined customers. Sony Bank has not announced plans to enable PlayStation crypto payments.