Sony Bank, the financial arm of the globally renowned Sony Group, has taken a significant step into the world of decentralized finance (DeFi) with the launch of a stablecoin trial built on the Polygon blockchain. This initiative highlights Sony’s growing commitment to blockchain innovation and its ambition to reshape digital payments, particularly within the rapidly evolving sectors of Web3 gaming and sports. As traditional finance increasingly intersects with decentralized technologies, Sony Bank’s experiment could mark a pivotal moment for how digital assets are integrated into mainstream entertainment ecosystems.
Exploring Stablecoins in a Web3 Context
At the core of Sony Bank’s initiative is a trial involving the issuance of fiat-backed stablecoins, specifically tokens pegged to the Japanese yen. Stablecoins have emerged as one of the most practical blockchain-based financial instruments, offering price stability while retaining the benefits of blockchain technology, such as transparency, programmability, and faster settlement times.
By conducting this trial on Polygon, a blockchain network known for its scalability, low transaction fees, and Ethereum compatibility, Sony Bank aims to assess how stablecoins can be used efficiently in real-world payment systems. The trial is expected to run for several months and will examine not only technical feasibility but also regulatory and legal considerations surrounding the transfer and use of yen-backed stablecoins.
Why Polygon?
Polygon has positioned itself as a leading infrastructure provider for enterprises exploring blockchain solutions. Its ability to handle high transaction volumes at low cost makes it particularly suitable for applications like gaming and digital entertainment, where microtransactions and frequent in-game payments are common.
For Sony Bank, leveraging Polygon allows for experimentation in a relatively mature blockchain environment without the high fees or congestion issues that can affect other networks. This choice reflects a strategic alignment between Sony’s long-term digital ambitions and Polygon’s role as a bridge between traditional enterprises and decentralized ecosystems.
Reducing Payment Friction in Gaming and Sports
One of the most compelling use cases for stablecoins lies in their potential to streamline payments and remittances. In gaming and sports—industries where Sony holds extensive intellectual property—stablecoins could significantly reduce transaction costs, minimize settlement delays, and enable seamless cross-border payments.
In the context of Web3 gaming, stablecoins can function as a reliable medium of exchange for in-game assets, rewards, and digital collectibles. Unlike volatile cryptocurrencies, stablecoins provide predictability, making them more attractive to mainstream users who may be hesitant to engage with traditional crypto assets.
Sony Bank’s trial suggests a future where gamers could transact across platforms and ecosystems using stable, blockchain-based currencies, potentially reshaping how value flows within digital entertainment.
Partnering With SettleMint for Blockchain Expertise
To navigate the technical and regulatory complexities of the stablecoin trial, Sony Bank has partnered with SettleMint, a Belgium-based blockchain technology company. SettleMint brings enterprise-grade blockchain expertise, helping organizations design, deploy, and manage decentralized solutions while adhering to compliance requirements.
This collaboration underscores Sony Bank’s cautious yet forward-thinking approach. Rather than rushing into full-scale deployment, the bank is prioritizing due diligence, regulatory clarity, and technical robustness—critical factors for any financial institution exploring blockchain-based instruments.
Sony’s Broader Web3 Strategy
Sony Bank’s stablecoin experiment is not an isolated move but part of a broader Web3 strategy unfolding across the Sony Group. In recent years, Sony has steadily expanded its presence in the blockchain space, particularly through its gaming division.
One notable development is Sony’s patent application for integrating non-fungible tokens (NFTs) into gaming experiences. The concept aims to provide players with greater flexibility in managing in-game assets, including the ability to transfer items across different games and platforms. Sony has even explored the idea of “super fungible tokens,” a hybrid approach designed to simplify NFT transfers within gaming ecosystems.
These efforts indicate Sony’s belief that blockchain technology can enhance user ownership, interoperability, and engagement—key pillars of Web3 gaming.
Building Sony’s Own Blockchain Network
Beyond experimenting with existing blockchains, Sony is also actively working toward developing its own public blockchain network. Sony Network Communications, a subsidiary of the conglomerate, has partnered with Startale Labs, the company behind Astar Network, to bring this vision to life.
According to Sota Watanabe, founder of Astar Network, the collaboration represents a highly intensive and strategically important initiative. Speaking at the BUIDL Asia conference in Seoul, Watanabe emphasized that the coming months would be crucial for the partnership, promising “drastic changes” in the trajectory of the blockchain network.
The primary goal of this effort is mass adoption. By leveraging Sony’s vast ecosystem—spanning gaming consoles, music, film, and consumer electronics—the project aims to onboard users who may have little to no prior exposure to Web3 technologies.
Astar Network’s Role in Sony’s Vision
Astar Network is known for its advanced smart contract platform that supports both Ethereum Virtual Machine (EVM) and WebAssembly (Wasm) environments. This dual compatibility makes it an attractive partner for enterprises seeking flexibility and interoperability.
Astar has previously collaborated with major Japanese corporations such as Toyota, NTT Docomo, and SoftBank, demonstrating its credibility within Japan’s corporate landscape. More recently, the network launched a zkEVM solution based on Polygon’s AggLayer, enabling cross-chain transactions and shared liquidity between Astar and Polygon.
Watanabe believes that AggLayer will play an increasingly important role as more partners adopt chain abstraction solutions, reducing friction between different blockchain ecosystems.
Beyond Gaming and NFTs
While gaming remains a central focus, Sony’s upcoming blockchain network is not expected to be limited to entertainment use cases alone. Watanabe has clarified that the scope will extend beyond NFTs and gaming, hinting at broader applications across finance, digital identity, and other sectors.
This aligns closely with Sony Bank’s stablecoin trial, suggesting a long-term vision where blockchain-based financial instruments, digital assets, and entertainment platforms coexist within a unified ecosystem.
Japan’s Evolving Stablecoin Regulations
Sony Bank’s initiative is unfolding against the backdrop of an evolving regulatory environment in Japan. Following the collapse of TerraUSD, Japanese authorities introduced a new regulatory framework for stablecoins, emphasizing consumer protection and financial stability.
Under the current rules, locally issued stablecoins must be pegged to the yen or another fiat currency, with guarantees that holders can redeem them at face value. This clarity has encouraged both financial institutions and crypto companies to explore stablecoin issuance within Japan’s regulatory boundaries.
Binance Japan, for example, has partnered with banking giant MUFG to study the feasibility of issuing fiat-backed stablecoins. Similarly, Circle, the issuer of USDC, has collaborated with SBI Holdings to explore USDC circulation in the Japanese market.
A Growing Stablecoin Ecosystem
Momentum continues to build across Japan’s financial sector. Recently, regional bank Hokkoku announced the launch of Tochika, the country’s first stablecoin backed by bank deposits. Initially deployed at selected points of sale in the city of Suzu, Tochika represents a milestone in Japan’s journey toward mainstream stablecoin adoption.
Sony Bank’s Polygon-based trial adds further weight to this trend, reinforcing Japan’s position as a jurisdiction where innovation and regulation are developing hand in hand.
Bridging Traditional Finance, Gaming, and Blockchain
Ultimately, Sony Bank’s stablecoin experiment highlights the growing convergence of traditional finance, blockchain technology, and digital entertainment. By exploring stablecoins as a payment mechanism for gaming and sports-related ecosystems, Sony is positioning itself at the forefront of a potentially transformative shift.
If successful, the trial could pave the way for new monetization models, enhanced user experiences, and more efficient value exchange across Sony’s vast portfolio of intellectual properties. More broadly, it signals how established global brands can thoughtfully integrate Web3 technologies, balancing innovation with regulatory responsibility.
As Sony Bank, Astar Network, and their partners continue to push forward, the coming months may prove decisive—not just for Sony’s blockchain ambitions, but for the future of Web3 gaming and decentralized finance as a whole.