Connectia Trust Seeks National Trust Charter to Launch Stablecoin
- Connectia Trust, a subsidiary of Sony Bank, has applied for a National Trust Charter with the OCC on October 7.
- The company plans to issue a stablecoin pegged to the U.S. dollar and offer digital asset custody services.
- Other companies like Coinbase and Ripple Labs are also pursuing similar trust bank licenses.
- The American Bankers Association opposes these licenses, arguing crypto firms do not meet necessary requirements.
- Currently, Anchorage Digital Bank is the only entity that has successfully obtained this license from the OCC.
Connectia Trust’s application reflects growing interest from major corporations in digital finance and cryptocurrency solutions amid regulatory scrutiny. The OCC is collecting comments on this application until November.
If approved, Connectia Trust could significantly influence the market by launching its stablecoin and expanding into various financial services. (Source)
