Sony Bank to launch US dollar pegged stablecoin to power payments in 2026

Sony Bank plans to launch a stablecoin pegged to the US dollar as early as 2026. Sony Bank, which is a subsidiary of Sony Financial Group Inc. and part of the broader Sony Group, is reportedly planning to integrate its stablecoin within its global entertainment ecosystem, including services such as gaming, streaming, and anime, according to Nikkei. Sony users to pay using stablecoins Up until now, US customers who used Sony’s entertainment services were able to pay for subscriptions and content primarily via credit cards or traditional payment methods. But with the launch of its stablecoin, the company expects to offer a faster and lower-cost alternative for users to make purchases across its platforms, the report said . For Sony Group, the US remains a major market that accounted for over 30% of its total external revenue for the fiscal year ending March 2025, and with the introduction of a supportive regulatory environment championed by pro-crypto President Donald Trump, Sony hopes to capitalize on the momentum. The Trump administration signed the GENIUS Act into law in July, which paved the way for regulated issuance of payment stablecoins under a clear federal framework. Since its passage, the market for stablecoins in the country has continued to flourish, with a rapidly expanding list of institutions like Sony Bank now entering the space. Sony Group began exploring stablecoins as early as April 2024, when it launched a proof-of-concept for a yen-pegged token in collaboration with Polygon Labs and blockchain firm SettleMint. However, its plans for a US dollar-pegged coin started becoming clear after it partnered with Bastion, a US-based infrastructure provider for compliant stablecoin issuance. Sony Innovation Fund was a participant in Bastion’s $14.6 million funding round in September. Bastion offers a “stablecoin-as-a-service” platform that allows enterprises like Sony Bank to issue and manage their own branded tokens while remaining fully compliant with US laws, including the GENIUS Act. Sony Bank also applied for a US banking charter in October through a subsidiary named Connectia Trust and plans to establish a US-based branch to oversee issuance, compliance, and operational functions related to the stablecoin. Stablecoin market expected to grow Sony is making its move at a time when the stablecoin market is expected to see explosive growth, with Citi forecasting it could reach up to $1.9 trillion by 2030 as a base case scenario. Much of the current global stablecoin market remains concentrated in dollar-backed tokens like Tether’s USDT and Circle’s USDC, but that hasn’t stopped other players from entering with their own offerings. Over the past few months alone, a number of major institutions have disclosed plans for stablecoin initiatives aimed at improving cross-border payments and digital settlement systems. As previously reported by Invezz, Klarna, a Sweden-based fintech, launched KlarnaUSD to enhance global payment efficiency for its 114 million customers. Similarly, US Bank recently announced it was partnering with the Stellar Development Foundation and PwC to test the issuance of custom programmable stablecoins designed specifically for banking use. The post Sony Bank to launch US dollar pegged stablecoin to power payments in 2026 appeared first on Invezz