In 2026, Sony Bank, together with the American stablecoin issuer Bastion, plans to issue in the US stablecoin, pegged to the US dollar.
A subsidiary of Sony Financial Group plans to establish a division in the US to manage its stablecoin business. In October, the company already applied for a US banking license.
According to Nikkei, Sony is planning that stablecoin will be used by US customers to pay for video games, anime, subscriptions and other content within its ecosystem. Steyblecoin will complement credit card payments and, most importantly, reduce transaction fees.
In January, Sony Block Solutions Labs, a company within the group, launched a blockchain-based Ethereum Soneium’s Layer 2 network, which will become the main Block-an ecosystem for content creators, fans, and communities.
As for Japan itself, the country’s authorities are making significant efforts to create their own yen-pegged stablecoin market. Recently, the country’s financial authorities approved the launch of the first yen-pegged stablecoin, JPYC.