Sony Bank Advances US Dollar Stablecoin Plans With Conditional OCC Trust Approval

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The post OCC Clears Sony Bank to Open Connectia Trust for USD Stablecoin Business appeared on BitcoinEthereumNews.com. Key Takeaways Sony Bank secured conditional OCC approval for Connectia Trust on July 7, 2026. The new subsidiary carries $40 million in capital and targets 2027 for launch. Bastion Platforms will handle issuance and custody under a December 2025 deal. The company disclosed the approval on July 7, 2026, one day after its board signed off on the plan. The new subsidiary, Connectia Trust, National Association, will operate as a wholly owned unit of Sony Bank under Sony Financial Group. Connectia Trust will carry $40 million in capital, roughly 6.4 billion yen at current exchange rates. Sony plans to use the charter to issue and manage a U.S. dollar-denominated stablecoin, not to take deposits, make loans, or process traditional payments. What the Charter Actually Allows A national trust bank charter limits Connectia Trust to specific activities. Those include stablecoin i

Sony Bank has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to open a national trust bank built for a stablecoin business. The company disclosed the approval on July 7, 2026, one day after its board signed off on the plan. The new subsidiary, Connectia Trust, National Association, will […]

The post Sony Wins Conditional OCC Approval for U.S. Trust Charter appeared on BitcoinEthereumNews.com. Sony secured conditional OCC approval to launch its U.S. stablecoin trust by 2027. Connectia Trust will begin with $40 million to support future stablecoin operations. Banking groups opposed Sony’s trust charter as the OCC imposed additional oversight conditions.  Sony has moved closer to entering the U.S. stablecoin market after receiving conditional approval from the Office of the Comptroller of the Currency (OCC) to create a national trust bank. The decision allows the Japanese firm to proceed with the formation of Connectia Trust, a subsidiary that will support future stablecoin issuance and management in the United States. While the approval is a regulatory move, it also follows months of opposition from banking groups and consumer advocates who questioned whether a trust charter is the appropriate structure for stablecoin-related activities. Connectia Trust Set for 2027 Stablec

The post PayPal’s PYUSD Goes Native on Polygon, Joins Open Money Stack appeared on BitcoinEthereumNews.com. Paxos, the OCC-regulated issuer of PYUSD, said the stablecoin will now settle directly on Polygon rather than moving there as a bridged token. PayPal USD is now issued natively on Polygon and integrated into the network’s Open Money Stack, Polygon’s official account said Thursday. Paxos, the stablecoin’s issuer, confirmed the move the same day. “PYUSD, the OCC-regulated stablecoin issued by Paxos, is now available on [Polygon] and the Open Money Stack,” Paxos said in a post on its official X account. Polygon said it settles more than $2.5 billion in stablecoin volume daily and has moved over $2.6 trillion in stablecoins onchain in total, according to its own thread. Native Issuance, Not a Bridge Native issuance means PYUSD on Polygon will be minted directly by Paxos rather than moved over as a wrapped or bridged token, a distinction Polygon emphasized in its announcement. The cha

Paxos, the OCC-regulated issuer of PYUSD, said the stablecoin will now settle directly on Polygon rather than moving there as a bridged token.

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The post Sony Bank Wins OCC Approval to Launch US Dollar Stablecoin via $40M Trust Unit appeared on BitcoinEthereumNews.com. Crypto News Sony Bank, the internet-banking arm of Japan’s Sony Financial Group, has secured preliminary conditional approval from the United States Office of the Comptroller of the Currency (OCC) to form a national trust bank subsidiary built to issue and operate a US dollar stablecoin. The clearance, disclosed on July 7 local time, is a procedural milestone rather than a final license. Our reading of the filing is deliberately narrow in scope: the OCC approval covers only the chartering pathway, not live issuance. Sony Bank confirmed it will not mint or circulate any token until every remaining authorization is granted, positioning the move as the opening step in a longer regulatory process. The new entity will be named Connectia Trust, National Association, and it is structured as a special-purpose trust bank rather than a conventional lender. According to the