Sony Bank Plans USD Stablecoin Launch by 2026

Sony Bank, the online banking arm of Sony Financial Group, plans to launch a U.S. dollar-pegged stablecoin by fiscal 2026, targeting payments for its American customers in gaming, anime and subscription services. The initiative, aimed at the U.S. market where customers represent about 30 percent of Sony Group's external sales, seeks to streamline transactions within the company's digital ecosystem.

The stablecoin will function alongside traditional payment methods like credit cards, primarily to lower fees associated with card networks and enable faster, more efficient transfers. It will support purchases of PlayStation games, anime content and subscriptions, reducing Sony's reliance on external processors. To advance the project, Sony Bank applied for a U.S. banking license in October, intending to establish a dedicated subsidiary for stablecoin operations. Officials at the bank have described the move as part of a strategy to integrate blockchain technology into its services.

Central to the effort is a partnership with Bastion, a U.S.-based stablecoin issuer that will provide the necessary infrastructure and regulatory expertise. Sony's venture arm participated in Bastion's...