Sony Financial Group Inc. 8729
TSE · Japan · Finance
¥153.20-4.70 (-2.98%)
Market closed· · JPY · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
Market closed· · JPY · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
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The lender's new US subsidiary, Connectia Trust, would issue a dollar-pegged stablecoin once it clears the regulator's final conditions.
Sony Bank received conditional approval from the OCC to launch a national trust bank subsidiary called Connectia for making its own dollar-backed stablecoins.
The Japanese conglomerate aims to launch Connectia Trust, which will issue and manage stablecoins, in 2027. Banking trade groups and consumer advocates voiced their objection months ago.
SoftBank Group’s telecom unit SoftBank Corp. is among the parties considering a bid for the Japanese payments firm.
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