Sony is preparing to reshape the gaming and entertainment universe with its own stablecoin. Sony Bank, the company's digital banking arm, plans to launch a US dollar-pegged stablecoin by fiscal 2026. This token will be used across the entire ecosystem, from PlayStation and Sony's streaming services to anime platforms and subscription models. The goal is to create a payment experience that is both cheaper, faster, and borderless.
Sony Network Developing
Sony's current reliance on credit card networks significantly increases costs, especially in the US market. The US accounts for over 30% of Sony's global revenue, and the company wants to eliminate the transaction fees it pays for every in-game purchase. The stablecoin will offer users a faster payment flow while allowing Sony to reduce commission costs.
Toward this goal, Sony Bank has applied for a US banking license. It is also establishing a subsidiary in the country to handle stablecoin issuance and compliance processes. The company has also partnered with US-based stablecoin infrastructure firm Bastion. The aim is for the token to be fully compliant with regulations from day one.
However, this plan is being viewed with caution by some organizations in the US. The Independent Community Bankers of America (ICBA) likens Sony's proposed stablecoin to a bank deposit but argues that the lack of FDIC insurance could put consumers at risk. Regulators are also questioning whether Sony Bank's trust-charter structure would allow the stablecoin to be used effectively like a checking account. The ICBA states that Sony has not yet met all the standards expected of US financial institutions. This suggests that more intense regulatory debate is on the horizon as the project's official launch date approaches.
Sony's move comes amidst the rapidly growing global stablecoin race. Western Union has announced its own stablecoin, USDPT, on Solana by 2026. In Europe, nine banks are working together on a euro-backed stablecoin under the MiCA framework. Even the state of Wyoming has launched its own digital token, FRNT, on several blockchain networks.
The stablecoin market has now surpassed $306 billion, $260 billion of which is controlled by Tether and Circle. Standard Chartered warns that more than $1 trillion in capital could shift from banks in developing countries to stablecoins by 2028. The Genius Act, passed in the US, requires stablecoins to be backed by 100% liquid assets. This could increase demand for government bonds, making it a key factor influencing market dynamics.
Therefore, once the company's token is released, purchasing a PlayStation game or renewing a subscription on an anime platform could become a much more cost-effective and seamless experience.
