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Sony Bank gets preliminary approval to issue dollar stablecoin; PlayStation payments not decided

Sony Bank has received preliminary approval in the United States to pursue a dollar-based stablecoin issuance and custody business. The U.S. Office of the Comptroller of the Currency gave preliminary conditional approval for the establishment of Connectia Trust, a wholly owned trust bank. The plan focuses on issuing a U.S. dollar-pegged stablecoin, managing reserves, providing digital asset custody and enabling transfers within a limited network for approved Sony assets and defined customers. Documents do not mention PlayStation payments.