News

The financial division of the Japanese technology giant Sony has taken up digital assets in earnest. They have officially applied to the American Office of the Comptroller of the Currency for a federal banking license. This document will give their subsidiary Connectia Trust all the necessary legal rights to work with cryptocurrencies.

Sony Bank plans to launch stablecoins pegged to the US dollar. In addition, they are going to create and control reserves so that these digital tokens remain stable. The list of services will also include storing cryptocurrencies and managing digital assets for clients.

This initiative fits perfectly into the picture that is being observed by large companies in the financial and technology sectors. Before Sony, companies like Stripe, Coinbase, and Circle also probed the OSS for similar licenses. Of course, getting a full banking license is not an easy task.

It is worth emphasizing that Sony's banking operations will be conducted separately from other areas of activity, for example, from PlayStation development. This suggests that the decision is well thought out and in line with the diversification strategy that this multidisciplinary giant adheres to.

Sony's decision to pursue a crypto bank shows that digital assets are becoming an increasingly familiar part of the financial world. When such large corporations get involved, it adds credibility to the entire crypto market and helps create a more stable and reliable infrastructure.