Sony Bank, a subsidiary of Sony Financial Group, is gearing up to launch a stablecoin in the US by 2026. This stablecoin will facilitate payments within the Sony ecosystem, including purchases of PlayStation games, subscriptions, and anime content, targeting US customers to reduce fees paid to card networks.

In October, Sony Bank applied for a banking license in the US to establish a stablecoin-focused subsidiary and partnered with US stablecoin issuer Bastion. The venture arm of Sony also participated in Bastion’s $14.6 million funding round led by Coinbase Ventures.

Sony Bank’s stablecoin endeavor aligns with its venture into Web3, establishing a dedicated Web3 subsidiary in June to incorporate blockchain technology into various services and business models, including financial services related to NFTs and cryptocurrency assets.

The Web3 unit, named BlockBloom, aims to create an ecosystem blending fans, artists, NFTs, digital and physical experiences, and fiat and digital currencies. This initiative follows the recent spin-off of Sony Financial Group from Sony Group, allowing each entity to focus on its strategic goals.

Cointelegraph reached out to Sony Bank for comments on its US stablecoin launch plans but had not received a response at the time of publication. Sony Bank’s push into stablecoins and Web3 highlights its commitment to innovation and expanding its services within the digital asset space.

Read more at Cointelegraph: Sony Bank Plans 2026 Stablecoin For PlayStation Payments