"Sony Bank to pursue issuance of a dollar-pegged stablecoin in the U.S.…targets fiscal year 2026"

Sony Bank, an affiliate of Sony Financial Group, is reportedly pursuing the issuance of a dollar-pegged stablecoin in the U.S.

On the 1st (local time), crypto-focused media The Block reported that Sony Bank aims to launch a dollar-pegged stablecoin in the U.S. during fiscal year 2026 (Japan standard: April 2026–March 2027). To this end, it is seeking to establish a U.S. local subsidiary to handle the stablecoin business. Earlier in October, it applied for a U.S. banking license.

According to Nikkei and others, the new stablecoin is designed mainly for Sony's game and animation users in the U.S. It is intended for use in content subscription fees and in-game item payments to reduce card fee burdens and improve payment efficiency. In addition, it plans to partner with U.S.-based stablecoin issuer Bastion and leverage its infrastructure.

Meanwhile, Sony Group's U.S. sales accounted for more than 30% of total sales in the previous fiscal year.

The outlet said, "Sony Block Solution Labs launched the Ethereum-based layer-2 'Soneium' mainnet in January and has been promoting the expansion of a content-centered blockchain ecosystem," adding, "This stablecoin plan is also a move aimed at creating synergy with the growing U.S. dollar stablecoin market."