Sony Bank Applies for National Bank Charter in the U.S.

Sony Bank has submitted an application to obtain a national bank charter in the U.S., as reported by international media on the 16th. Specifically, its subsidiary Connectia Trust plans to engage in businesses that include cryptocurrencies. The activities planned include issuing U.S. dollar stablecoins, managing reserve assets, providing custody services, and offering digital asset management services. Custody refers to the holding and management of assets on behalf of investors, a term widely used for assets beyond just cryptocurrencies. As of the time of writing this article, the application could not be located, but it was submitted to the U.S. Office of the Comptroller of the Currency (O...