The Office of the Comptroller of the Currency has conditionally cleared a Sony stablecoin trust-bank plan, giving the Japanese conglomerate a U.S. charter route that trade groups and consumer advocates had already challenged.

The Sony OCC trust charter approval covers Connectia Trust, a Sony Financial Group subsidiary that Sony said is being formed to issue and manage U.S. dollar-denominated stablecoins in the United States.

Sony said Connectia will be capitalised at $40 million, but the company did not detail specific products or identify whether the trust is aimed at retail or institutional customers.

Sony Forms Connectia Trust For Dollar Stablecoins

Sony disclosed on Monday that it had received conditional OCC approval to establish the national trust bank.

The company said Connectia Trust is set for formation this month under Sony Financial Group.

Sony said it is setting up the trust ahead of U.S. dollar stablecoin issuance and management activity in the United States.

The company also said Connectia will be capitalised at $40 million.

The disclosure did not name a representative to lead Connectia.

International Business Times reported that Sony is preparing to launch Connectia in 2027.

Trade Groups Objected To The Charter Path

The application drew objections after it became public in October.

Banking Dive listed the Bank Policy Institute, the Independent Community Bankers of America and the National Community Reinvestment Coalition among the groups that pushed back.

The National Community Reinvestment Coalition said at the time that granting trust charters to stablecoin issuers would blur statutory boundaries around what constitutes a bank.

The group said the licence would give Connectia federal regulatory status and market credibility while avoiding obligations that apply to banks.

The Independent Community Bankers of America said a trust would not be required to hold deposit insurance, creating a risk of consumer confusion and harm if it became insolvent.

The Bank Policy Institute said the application raised questions about the separation of banking and commerce.

OCC Approval Leaves Product Details Undisclosed

The approval arrives during broader interest in national trust bank charters under OCC chief Jonathan Gould.

Banking Dive said recent applicants have included crypto firms such as Circle, Ripple and Paxos, while Morgan Stanley has also sought trust charters for new offshoots.

Roman Goldstein, a senior director at Klaros Group, wrote on LinkedIn that the OCC did not dodge banking-and-commerce objections and instead said the law permits the integration.

Goldstein also noted that the OCC supervises the trust bank while Japan's Financial Services Agency supervises the parent bank.

Goldstein said the OCC imposed a condition that would allow the regulator to require the Sony subsidiary to dedicate a full-time, non-dual-role CFO.

He also wrote that the OCC treated the trust bank's stablecoins as outside deposits or checks because they would operate in a closed-loop payment system.

Sony has not disclosed Connectia's first stablecoin products, named customers, public-chain design, launch date beyond the reported 2027 target, retail or institutional scope, or whether the OCC will require a separate full-time CFO.