Sony Bank applies for US charter to issue stablecoin, offer custody

Sony Bank, the internet-only banking arm of Japan's Sony Group, has applied for a charter from the U.S. Office of the Comptroller of the Currency (OCC) to issue a dollar-pegged stablecoin and provide cryptocurrency custody services, Decrypt reported. The bank plans to offer these services through a subsidiary, Connectia Trust. Other companies, including Stripe, Coinbase, Paxos, and Circle, have also sought charters from the OCC, but Anchorage Digital is the only firm to have received full approval to date.