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Sony’s Stablecoin Obscures Boundaries with Traditional Banking, Prompting Industry Resistance

Sony’s Stablecoin Obscures Boundaries with Traditional Banking, Prompting Industry Resistance

Bitget-RWA2025/12/01 17:50
By:Bitget-RWA

- Sony Bank plans to launch a U.S. dollar-pegged stablecoin by 2026 to streamline payments across gaming, streaming, and entertainment platforms via a partnership with stablecoin infrastructure provider Bastion. - The initiative, backed by a $14.6M investment from Sony's venture arm and Coinbase Ventures, aims to reduce reliance on traditional payment networks while facing criticism from community banks over regulatory and competitive risks. - Sony's stablecoin, fully collateralized 1:1 with USD, will supp

Sony Bank Set to Launch Dollar-Backed Stablecoin in the U.S.

Sony Bank, the financial division of the renowned Japanese tech conglomerate, is gearing up to introduce a U.S. dollar-pegged stablecoin by the 2026 fiscal year. This digital currency aims to simplify transactions across Sony’s gaming, streaming, and entertainment platforms, targeting a more efficient payment experience for American users—who make up about 30% of Sony Group’s overseas revenue.

The upcoming stablecoin will be fully backed by U.S. dollars on a one-to-one basis. It is designed to facilitate purchases of PlayStation games, subscriptions, anime, and a range of digital services, positioning Sony as a pioneer among major entertainment companies in adopting blockchain-powered payments on a broad scale.

Sony Bank Stablecoin Initiative

Strategic Partnerships and Regulatory Compliance

This initiative is being developed in collaboration with Bastion, a U.S.-based stablecoin infrastructure provider. Bastion will oversee the issuance, custody, and regulatory compliance of the stablecoin. Sony’s venture capital arm also took part in Bastion’s recent $14.6 million funding round, which was led by Coinbase Ventures. The partnership ensures that the stablecoin will adhere to U.S. regulations, including those set forth in the GENIUS Act, which governs stablecoin oversight.

In October, Sony Bank, through its subsidiary Connectia Trust, applied for a U.S. banking license and intends to establish a specialized entity focused on stablecoin operations. However, this move has sparked concerns from the Independent Community Bankers of America (ICBA), who argue that such initiatives could blur the boundaries between banking and commerce and potentially disadvantage community banks by circumventing traditional regulatory safeguards. The ICBA has also highlighted the lack of FDIC insurance for Sony’s stablecoin, warning that this could create unfair competition in the financial sector.

Expanding Sony’s Web3 and Blockchain Ambitions

Sony’s stablecoin project is part of a larger push into Web3 technologies. The company has recently launched BlockBloom and Soneium, an Ethereum Layer 2 blockchain tailored for entertainment applications. These ventures are intended to bring blockchain features—such as tokenized rewards, programmable payments, and seamless cross-platform transactions—into Sony’s digital ecosystem.

This stablecoin initiative follows the recent spin-off of Sony Financial Group, which became publicly listed on the Tokyo Stock Exchange in September. The restructuring has granted Sony Bank greater autonomy to pursue innovative digital finance projects.

Stablecoins on the Rise Worldwide

Globally, stablecoins are becoming increasingly popular as both payment solutions and financial infrastructure. The market capitalization of U.S. dollar stablecoins now exceeds $291 billion, and countries like Uzbekistan and Kazakhstan are developing regulatory frameworks for tokenized assets. Sony’s move into the stablecoin sector comes as institutional interest in these digital assets grows, with some analysts predicting that stablecoins could significantly disrupt traditional banking. For instance, Standard Chartered has projected that as much as $1 trillion could shift from emerging-market banks to stablecoins by 2028.

If Sony’s stablecoin receives regulatory approval, it could serve as a landmark example of how large corporations can harness blockchain technology to transform consumer finance within their own ecosystems.

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