Sony Bank Decides to Establish a Subsidiary for Web3-Related Business, Aiming for an Autumn Launch

Sony Bank announced on May 27th, during a board meeting, that it has decided to establish a wholly-owned subsidiary to engage in Web3-related businesses. The bank plans to set up the subsidiary around June 2025, following the acquisition of necessary regulatory approvals. (The subsidiary is categorized under Article 16-2, Paragraph 1, Item 15 of the Banking Law, which pertains to subsidiaries of banks.) The new company will handle financial services such as NFTs, cryptocurrency wallets, and cryptocurrency exchange operations. It aims to bridge fans and artists, digital and physical realms, as well as fiat and digital assets, targeting a business launch around the autumn of 2025.