Sony Bank is planning to launch a U.S. dollar-pegged stablecoin in the United States by 2026. Sources familiar with the matter revealed that the Sony Financial Group subsidiary is working to establish a U.S.-based entity to manage the stablecoin project. The company has already applied for a U.S. banking license as part of its strategy to enter the U.S. digital asset market.
Additionally, Sony has partnered with the U.S. stablecoin issuer Bastion to leverage its infrastructure for the initiative.
The stablecoin is expected to be used by U.S. customers for payments within Sony’s ecosystem, including video games, anime, subscriptions, and other digital content. Sony aims to replace or complement credit card payments, thus reducing associated transaction fees.
The move aligns with Sony’s growing presence in the U.S. market, which represented over 30% of the company’s external sales last year. The U.S. dollar-pegged stablecoin market is already valued at over $291 billion, indicating significant potential for Sony’s new offering.
Sony’s Digital Asset Strategy and Expanding Blockchain Efforts
Sony is also making strides in the blockchain space. Earlier this year, the company’s subsidiary, Sony Block Solutions Labs, launched its Ethereum Layer 2 platform, Soneium, on the mainnet. The initiative aims to create a blockchain ecosystem focused on content creators, fans, and communities.
By introducing a stablecoin alongside its other blockchain projects, Sony is positioning itself to capitalize on the rapidly expanding digital currency market in the U.S. and beyond.
Meanwhile, Japan has taken steps toward establishing its own yen-pegged stablecoin market, with JPYC being the first stablecoin approved by local authorities.
Despite this, Sony’s move into the U.S. stablecoin market signifies its broader global ambitions in the digital asset space, aiming to tap into a growing ecosystem with immense potential.