Sony Bank, the financial arm of the tech and entertainment giant, is reportedly preparing to issue a U.S. dollar-pegged stablecoin for American customers, with a target launch in its 2026 fiscal year. According to a report from Nikkei, the group plans to integrate the stablecoin for payments and settlements within its extensive gaming and anime businesses.

This strategic move could streamline transactions for customers who currently rely on credit cards for subscriptions and purchases. By introducing its own stablecoin, Sony could potentially lower the transaction fees paid to credit card issuers, creating a more efficient internal payment ecosystem.

Regulatory Pushback and a Bid for a US Bank Charter

Sony’s ambitions in the digital currency space became clear in October when it filed an application with the Office of the Comptroller of the Currency (OCC). The application seeks to establish a national crypto bank charter through its subsidiary, “Connectia Trust.” If approved, Sony would join a select group of major tech companies with a U.S. bank charter tied to stablecoin operations.

However, the proposal faces significant opposition. On November 6, the Independent Community Bankers of America (ICBA) submitted a letter to the OCC “strongly opposing” Sony Bank’s application. The banking group argued that the plan is designed to gain the advantages of a U.S. bank charter without being subject to the full suite of banking regulations. The ICBA warned that approving the charter would weaken the traditional separation between banking and commerce, creating an uneven playing field for community banks.

Entering a Rapidly Expanding Stablecoin Market

Sony’s initiative comes as stablecoins are gaining significant influence in global finance. The combined market capitalization of the two largest USD-pegged stablecoins, Tether (USDT) and Circle (USDC), currently stands at $260 billion. The total market cap for all stablecoins now surpasses $306 billion, highlighting the sector’s explosive growth.

The timing of Sony’s entry appears calculated to capitalize on this trend. A recent report from Standard Chartered warned that over $1 trillion could flow from emerging-market banks into stablecoins by 2028 as global adoption accelerates. This backdrop positions Sony’s move as a timely entry into a pivotal and fast-growing segment of the digital economy.