- Sony has already applied for a US banking license.
- Gaming market revenue is expected to triple in the next five years.
- Stablecoins are becoming more popular for online merchants.
Global brands are joining the stablecoin race, and Sony is the latest to enter the parade.
Sony Bank is developing a plan to launch a US dollar stablecoin, according to Japanese outlet Nikkei.
The proposed stablecoin would be the default currency for buying PlayStation games, anime, and other digital goods inside Sony’s entertainment market.
That ambition fits into a larger corporate land grab for stablecoins, both within and outside Japan.
In Japan, the country’s three mega banks, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group, are set to launch a yen stablecoin pilot backed by the country’s top financial regulator in November.
Sony Bank plans to launch its stablecoin as early as fiscal 2026 and has already applied for a national banking charter in the US through Connectia Trust, its US trust subsidiary.
The goal is to replace card payments and their considerably higher fees with stablecoins, which are seen as a cheaper alternative, according to the report.
The stakes are high for Sony as the company already runs a busy digital storefront that serves close to 120 million monthly active users on the PlayStation Network alone.
Layer that onto a global gaming market predicted to generate $424 billion in revenue by 2032, about triple the current projected earnings for this year, and Sony appears to be making a significant move.
As researchers at the Federal Reserve have noted, payment channels for business sectors like gaming that require frequent microtransactions are just as important as the content that generates revenue.
Sony’s stablecoin play is also part of the growing trend toward stablecoins as merchant settlement currencies.
There’s already an expanding roster of banks and fintech firms experimenting with their own branded stablecoins.
In November, Visa launched a stablecoin pilot for gig workers, creators, and freelancers.
Zelle and Western Union have also floated plans to integrate stablecoins into their operations. Western Union CEO Devin McGranahan said the move isn’t about speculation but giving users “more choice and control in how they manage and move their money.”
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com.
