Sony Bank, the online lending subsidiary of Sony Financial Group, is pursuing a U.S. banking license and partnering with U.S. stablecoin issuer Bastion to develop a dollar-pegged stablecoin scheduled for launch in 2026. This initiative aims to facilitate payments within Sony’s U.S. ecosystem, including purchases of PlayStation games, subscriptions, and anime content.
The stablecoin will integrate into Sony’s payment systems to serve U.S. customers, who account for approximately 30 percent of Sony Group’s external sales. It will operate in conjunction with established methods like credit cards, with the goal of lowering fees associated with card networks. This approach allows Sony to diversify its transaction options while addressing cost structures in digital commerce.
In October, Sony Bank submitted an application for a U.S. banking license specifically to form a subsidiary dedicated to stablecoin operations. This step supports the broader development of the stablecoin infrastructure. Additionally, Sony’s venture arm invested in Bastion’s $14.6 million funding round, which Coinbase Ventures led. The partnership with Bastion provides technical expertise in stablecoin issuance and compliance within the U.S. regulatory environment.
Sony Bank’s efforts in the stablecoin space align with its expanding involvement in Web3 technologies. In June, the bank established a dedicated Web3 subsidiary to explore blockchain-based opportunities. This unit focuses on integrating digital assets into various services and business models. The creation of this subsidiary marks a structured entry into decentralized finance and related applications.
In a statement released in May, Sony Bank emphasized the role of blockchain in modern services. “Digital assets utilizing blockchain technology are incorporated into a diverse range of services and business models,” Sony Bank said. The statement continued, “Financial services, such as wallets, which store NFT (non-fungible tokens) and cryptocurrency assets, and crypto exchange providers are becoming increasingly important.” These remarks highlight the bank’s recognition of evolving financial tools and their integration potential.
The Web3 subsidiary, subsequently named BlockBloom, is tasked with constructing an ecosystem that connects fans and artists through NFTs, digital experiences, physical events, and a mix of fiat and digital currencies. This framework seeks to create cohesive environments where users engage with Sony’s content in innovative ways, bridging traditional and blockchain elements.
The stablecoin project occurs shortly after the September spin-off of Sony Financial Group from Sony Group. Sony Financial Group was separated and listed on the Tokyo Stock Exchange to isolate its balance sheet and operations from the parent conglomerate. This restructuring enables Sony Financial Group to pursue financial innovations independently, while Sony Group concentrates on its core entertainment and technology sectors.
