Stablecoin Initiative for Digital Content and Gaming
Sony Bank is preparing to introduce a dollar-pegged stablecoin in 2026, which will facilitate cryptocurrency payments for PlayStation games, subscriptions, and anime content across its U.S. operations.
The online lending subsidiary of Sony Financial Group filed for a U.S. banking license in October. This filing was made to establish a stablecoin-focused subsidiary. The initiative specifically targets American customers, who represent approximately 30% of Sony Group's external sales, according to a report from Nikkei.
The stablecoin is intended to function alongside traditional payment methods, such as credit cards. Sony anticipates that the digital currency will lead to reduced transaction fees that are currently paid to card networks. Furthermore, it is expected to expand payment flexibility for users who purchase digital content.
Partnerships and Subsidiary Development
Sony Bank has entered into a partnership with U.S. stablecoin issuer Bastion to develop this project. Sony's venture arm was a participant in Bastion's $14.6 million funding round, which was led by Coinbase Ventures. This involvement further strengthens the collaborative relationship between the two firms.
In June, the bank established a dedicated Web3 subsidiary named BlockBloom. This new entity was launched with an initial capital of 300 million yen, equivalent to $1.9 million. The subsidiary's objective is to create an ecosystem that connects fans, artists, NFTs, and both fiat and digital currencies, as indicated by company statements.
Broader Digital Asset Strategy
Sony Bank emphasized in May that digital assets leveraging blockchain technology are being integrated into a variety of services and business models. The bank noted that financial services, including wallets designed for storing NFT and Bitcoin assets, are becoming increasingly significant in the evolving digital economy.
This stablecoin initiative follows the separation of Sony Financial Group from Sony Group. Sony Financial Group was subsequently listed on the Tokyo Stock Exchange in September. The spin-off was strategically implemented to decouple the financial arm's operations from the broader conglomerate. This separation allows each entity to pursue its own focused strategic objectives more effectively.
Global Expansion and Future Outlook
Sony Bank has maintained operations in Singapore since 2017. The company views this region as a crucial element in its global Web3 expansion strategy. Sony Bank has not yet provided comments regarding specific launch timelines or detailed technical specifications for the planned stablecoin.