Sony Financial Group said July 6 that its board resolved for Sony Bank to establish a new U.S. subsidiary after receiving conditional OCC approval as part of the review process. The planned unit, Connectia Trust, National Association, would prepare for businesses tied to U.S. dollar stablecoin issuance and management, making the approval conditional rather than operational clearance.
The subsidiary is planned as a national trust bank in the United States, owned 100% by Sony Bank, with $40 million in capital. Its business description is trust company business and related operations, positioning Sony Bank’s stablecoin strategy inside a regulated trust framework before any dollar stablecoin activity begins.
Sony Financial Group said no business activities, including stablecoin issuance, will be conducted until all approvals and authorizations, including the OCC’s final approval, are obtained. The company expects the impact on fiscal-year consolidated results ending March 31, 2027 to be immaterial, making final authorization the key gating item.
Source: Sony Financial Group.
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