#usd stablecoin business

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 […]