Sony Bank Partners with Bastion for US Stablecoin Venture, Eyes Subsidiary Establishment

Sony Bank announced on December 1st that it has entered into a business partnership with Bastion Platforms, Inc., a provider of stablecoin infrastructure, to commercialize a US dollar-denominated stablecoin. The bank aims to support Sony Group's North American operations financially, with the establishment of a US subsidiary also in view to advance the stablecoin venture. Bastion holds a trust license from the New York State Department of Financial Services (NYDFS), allowing the provision of Sony's own brand of stablecoins in compliance with legal regulations. Furthermore, according to the Nikkei Shimbun, ...