Sony Bank applied to the Office of the Comptroller of the Currency for a national bank charter, planning to issue a US dollar stablecoin.

According to Mars Finance, as reported by Decrypt, Sony Bank has applied for a national bank charter from the Office of the Comptroller of the Currency (OCC) through its subsidiary Connectia Trust to engage in “specific activities involving cryptocurrencies.” According to the application documents, Sony Bank plans to issue a stablecoin pegged to the US dollar, maintain corresponding reserve assets, and provide custody and management services for digital assets. This application joins the growing list of crypto companies seeking OCC charters, including Stripe, Coinbase, Paxos Trust, and Circle.