Sony Ventures into US Stablecoin Market with New Trust Entity

The case could redefine stablecoin issuer responsibilities, impacting regulatory frameworks and court authority over digital asset recovery. The post Circle faces criminal complaint in Wisconsin over USDC recovery refusal appeared first on Crypto Briefing.

Sony Bank received preliminary approval from the Office of the Comptroller of the Currency to establish a US stablecoin issuance business, with $40 million in starting capital.

The post Sony Bank Clears OCC Hurdle for Dollar Stablecoin appeared on BitcoinEthereumNews.com. In brief Japan’s Sony Bank has won conditional approval from the U.S. Office of the Comptroller of the Currency to set up a national trust bank, Connectia Trust, to issue a dollar-backed stablecoin. The subsidiary will be established this month with $40 million in capital and is expected to begin operations in 2027, pending final approval. Sony envisions U.S. customers using the token to pay for video games, anime and subscriptions across its ecosystem. Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, moving Japan’s Sony Financial Group closer to issuing its own dollar-backed stablecoin. The lender plans to set up a wholly owned subsidiary, Connectia Trust, this month with $40 million in capital, it said in a statement dated July 6. The unit would issue and manage a dollar-denominated stablecoin, and is exp

The lender's new US subsidiary, Connectia Trust, would issue a dollar-pegged stablecoin once it clears the regulator's final conditions.

The post Stablecoin Cross-Border Remittance Enables Hyundai Card’s Efficient PoC appeared on BitcoinEthereumNews.com. Hyundai Card has pulled off something that most corporate finance teams have only theorized about: a real, live stablecoin cross-border remittance between two overseas subsidiaries of one of South Korea’s biggest conglomerates — and it took just seven minutes. Key takeaways Hyundai Card and Hyundai Motor completed a stablecoin cross-border remittance proof of concept that goes beyond technical testing, reaching operational readiness for real-world deployment. The first PoC converted USD 20,000 from Hyundai Motor America into USDT, transferred it to Hyundai Motor Mexico, and converted it back to dollars — the entire process averaging seven minutes. Participants included Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and Axiym. A second PoC targeting Hyundai Motor’s European entities will bring in Circle and Visa, testing local currencies be

Revolut said USDT support remains unchanged outside EEA and Switzerland as it winds down the stablecoin offering in selected European markets.

The post Kazakhstan’s new crypto adoption push: Stablecoin rules, tax exemptions explained! appeared on BitcoinEthereumNews.com. Kazakhstan is betting big on crypto and has laid the groundwork to develop the sector into a regulated market. On the 7th of July, Kazakhstan President Kassym-Jomart Tokayev signed a decree for the same.  The document was prepared by the Ministry of Artificial Intelligence and Digital Development, the National Bank (central bank), other government agencies, and the Astana International Financial Center.  According to the ministry’s statement, the signed document aims to create a ‘modern regulated’ crypto market to boost investment and adoption.  It lays the foundation for the systematic development of a regulated digital assets market, broader adoption of innovative financial technologies, and increased investment attractiveness of the sector. Will mining and tax relief fuel crypto adoption in Kazakhstan? The move came following President Tokayev’s intensifie

The post Sony Bank Stablecoin Approval Marks Key Regulatory Milestone appeared on BitcoinEthereumNews.com. Sony Bank’s conditional OCC approval to establish a US dollar-backed stablecoin trust bank marks one of the more consequential moves a major Japanese financial institution has made into American digital asset infrastructure. On July 6, Sony Bank confirmed it had received conditional approval from the U.S. Office of the Comptroller of the Currency to charter a wholly owned national trust bank called Connectia Trust, with the explicit goal of issuing a stablecoin pegged 1:1 to the U.S. dollar. Key takeaways Sony Bank received conditional OCC approval on July 6 to establish Connectia Trust, a national trust bank subsidiary in the U.S. Connectia Trust plans to issue a US dollar-backed stablecoin for payments across Sony’s digital ecosystem, including video games, anime, and subscriptions. Sony Bank will capitalize Connectia Trust with $40 million; operations are targeted to begin in 2