POPA ReconSony Receives Conditional Approval to Launch U.S. Stablecoin Trust Bank
Sony Receives Conditional Approval to Launch U.S. Stablecoin Trust Bank Sony's online banking unit has received conditional approval to establish Connectia Trust, N.A., a U.S. national trust bank that could support the issuance and management of USD-denominated stablecoins. The New York-based subsidiary will launch with $40M in capital and be fully owned by Sony Bank. However, operations and any stablecoin issuance remain subject to final regulatory approval from the OCC. The move comes as stablecoin adoption accelerates, with monthly transaction volume reaching a record $1.79T. Sony has pr…
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