Sony Bank is developing a dollar-pegged stablecoin for the American market. Slated for launch in two years, the asset will integrate into Sony’s global ecosystem—users will be able to pay for games, subscriptions, and anime with the coin.
The US generates roughly 30% of the group’s external sales, prompting the company to seek cost reductions. A proprietary digital currency allows Sony to save on fees charged by card networks. Stablecoin payments will be offered as an alternative to credit cards, though both methods will remain available.
In October, the bank applied for a license in the US. A separate subsidiary is being formed for this new vertical, with stablecoin issuer Bastion serving as the technical partner. Sony’s venture arm previously backed the startup in a $14.6 M round led by Coinbase Ventures.
The Role of BlockBloom
The stablecoin initiative extends the bank's broader Web3 strategy. In June, it launched a dedicated unit, BlockBloom, to build an environment where fans and artists interact through NFTs and digital events.
Sony aims for BlockBloom to bridge traditional finance and blockchain, ensuring a seamless transition for users from fiat to digital.
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