Sony secures conditional approval to set up U.S. stablecoin trust bank
The New York-based subsidiary, fully owned by Sony Bank, will be capitalized with $40 million to support its upcoming stablecoin business operations.
Make preferred on
Share this article
Summary
- Sony Bank received preliminary conditional OCC approval to form Connectia Trust, a U.S. subsidiary for managing dollar-denominated stablecoins.
- The New York-based subsidiary, fully owned by Sony Bank, will be capitalized with $40 million to support its upcoming stablecoin business operations.
- Operations are on hold pending final regulatory approvals as the U.S. develops a comprehensive federal framework for stablecoins.
