Sony Bank has named Bastion as its sole stablecoin issuance provider, according to an announcement on December 1, 2025. The partnership will enable Sony Bank to develop a USD-backed stablecoin for use across treasury operations, in-app payments, and other functions within Sony's ecosystem, with a planned launch in 2026 pending regulatory approval.
The stablecoin will be backed 1:1 by USD reserves managed by Bastion, allowing Sony Bank to avoid building compliance and reserve infrastructure from scratch.
Corporate Control Over Payment Economics
According to Bastion CEO Nassim Eddequiouaq, major enterprises seek full control over their payment economics, including reserve yields, redemption fees, and transaction settlement. A branded stablecoin allows a company to function as its own payment processor, reducing reliance on traditional card networks.
Bastion's Infrastructure Model
Bastion operates as a white-label infrastructure provider rather than issuing its own stablecoin. The company offers reserve management, compliance, and transaction facilitation services for enterprises launching their own stablecoins.
Bastion operates under a New York Department of Financial Services limited purpose trust charter and holds additional state money transmitter licenses.
The company raised additional funding in 2025 from backers including Coinbase Ventures and Sony Innovation Fund, building on prior backing from a16z crypto.
Stablecoin Economics
Card network interchange fees typically range from 1.5% to 3.5% per transaction. Stablecoin transactions on blockchain infrastructure can be completed for pennies, with settlement occurring in seconds rather than the days required by traditional payment networks.
Sony's stablecoin launch remains contingent on regulatory approval.
