CoinDesk·3 min read·medium
Sony secures conditional approval to set up U.S. stablecoin trust bank
F
Francisco Rodrigues
✦AI Summary
Sony Financial Group has received conditional approval from U.S. regulators to establish a stablecoin trust bank named Connectia Trust. This move positions Sony to enter the competitive stablecoin market, which has seen significant growth in transaction volume.
The planned unit, Connectia Trust, National Association, will be based in New York and capitalized with $40 million, according to a Sony Financial Group announcement . Sony Bank will own 100% of the subsidiary.
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