Sony Enters US Crypto Banking Race Amid Growing Institutional Interest

The U.S. crypto banking sector is heating up as Japan-based Sony Bank, a subsidiary of the Sony Financial Group, recently filed with the Office of the Comptroller of the Currency (OCC) for a national trust charter, signaling a growing race among institutions to offer regulated digital asset services.

Dubbed Connectia Trust, N.A., the bank would operate as a trust company in the U.S. and offer cryptocurrency services, including issuing dollar-backed stablecoins, holding digital assets for clients, and managing assets for affiliated companies.

If approved, Sony Bank would be one of the first major global technology companies to run a federally regulated crypto bank in the U.S. The filing also reflects a broader trend of both traditional financial (TradFi) firms and crypto-native companies seeking federal oversight to offer digital asset products.

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