Sony Bank announced a partnership with Bastion which will provide stablecoin issuance, reserve management and custody services for stablecoins to be used by Sony Group companies in North America. Bastion holds a New York trust charter. Sony Innovation Fund participated in a $14.6 million funding round for Bastion in September alongside a16zcrypto, Coinbase Ventures, Hashed and Samsung NEXT.
“Together they will bring stablecoins to the mass market and set the tone for enterprise adoption of digital assets,” said Kazuhito Hadano, CEO, Sony Ventures Corporation.
Sony Bank has been working on stablecoins since early 2024, initially trialing the Polygon blockchain by partnering with blockchain firm Settlemint. Together they explored stablecoin usage by Sony Group companies for digital sales, including games. Since then, the Sony Group has launched its own blockchain Soneium.
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