The New York-based subsidiary, fully owned by Sony Bank, will be capitalized with $40 million to support its upcoming stablecoin business operations. Sony Bank received preliminary conditional OCC approval to form Connectia Trust, a U.S. subsidiary for managing dollar-denominated stablecoins. The New York-based subsidiary, fully owned by Sony Bank, will be capitalized with $40 million to support its upcoming stablecoin business operations. Operations are on hold pending final regulatory approva…
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