Schlagwort: crypto business

• The bank partnered with Bastion and took part in its $14.6 million raise.
• Sony created a Web3 unit named BlockBloom to expand digital asset services.
• Sony Financial Group’s recent spin-off gives Sony Bank strategic freedom.

Sony’s plan to introduce a US dollar stablecoin is emerging as a major step in how the company connects its entertainment businesses with its financial arm.

Instead of treating payments as a background function, Sony is designing a system that blends blockchain, digital assets, and its global user base into a single Web3 network, according to a Nikkei report.

The project centres on Sony Bank’s expansion into the US, where customers remain a key part of the group’s external sales.

With a launch planned for 2026, the stablecoin is being built as a payment tool that supports gaming, anime, and other digital purchases across the Sony ecosystem.

Sony Bank’s move signals the company’s broader shift into digital finance, with Web3 technologies becoming an important layer in how it delivers future services.

Stablecoin for the wider Sony ecosystem

Sony Bank, the online lender under Sony Financial Group, is preparing to roll out the stablecoin in the US through a dedicated unit.

The token will be pegged to the US dollar and is expected to support purchases of PlayStation games, subscriptions, and anime content.

This payment option will sit alongside existing methods such as credit cards.

The plan is aimed at US customers, who account for around 30% of Sony Group’s external sales.

By adding a blockchain-based token to the mix, Sony aims to reduce fees associated with card networks and increase the speed and efficiency of transactions.

Sony Bank applied for a banking licence in the US in October as part of this expansion.

The bank has also partnered with Bastion, a US stablecoin issuer.

Sony’s venture arm joined Bastion’s $14.6 million fundraising round, which was led by Coinbase Ventures.

Web3 unit builds the foundation

Sony Bank’s shift into stablecoins is part of a wider Web3 push that started earlier this year.

The bank established a dedicated Web3 subsidiary in June, after first outlining its plans in May.

In its announcement, the bank said digital assets built on blockchain technology were becoming part of a growing number of services and business models.

It pointed to wallets for storing NFTs and cryptocurrency, and exchange providers, as sectors rising in importance.

These tools are central to Sony’s Web3 plans because they allow digital assets and tokens to move easily across platforms used by fans, artists and creators.

The new Web3 unit was later named BlockBloom.

Its goal is to build an ecosystem that links digital and physical experiences with NFTs, fiat currency, and digital currency.

BlockBloom’s work now connects directly with the stablecoin initiative, which is expected to become one of the core payment tools inside this ecosystem.

Restructuring strengthens the digital shift

Sony Bank is pursuing this strategy shortly after a major structural change inside its parent company.

Sony Financial Group was separated from Sony Group and listed on the Tokyo Stock Exchange in September.

The spin-off was designed to separate the financial arm’s operations and balance sheet from the wider conglomerate.

This independence now gives Sony Bank more space to pursue long-term digital finance projects, including the stablecoin.

The timing indicates that Sony Bank is using the separation to accelerate its push into new markets.

With the stablecoin aimed at the US and supported by Bastion, the bank is positioning itself to become a more competitive player in digital payments linked to entertainment and gaming.

Connecting US users with cross-platform payments

Sony’s stablecoin strategy is closely tied to its US users, who make up one of its largest customer segments.

By focusing the project on this market, Sony is aligning its payments network with regions that already engage heavily with blockchain and digital assets.

The stablecoin is expected to interact with multiple Sony services, creating a system where users can move funds seamlessly between gaming, subscriptions, and other digital platforms.

It also allows Sony to test Web3 payments at scale, backed by its gaming division, entertainment content, and new digital finance capability.

With the launch planned for 2026, Sony is building the early layers of a cross-platform structure that links Web3 payments with its broader entertainment network.

The post Sony to build a Web3 payments network with its new US dollar stablecoin appeared first on CoinJournal.

• Cardano founder Charles Hoskinson says Genesis ADA was profit earned from early work.
• He rejects calls to use those funds for new integrations or community needs.
• Treasury, not Genesis ADA, should finance current ecosystem initiatives.

Cardano founder Charles Hoskinson has moved to clarify one of the blockchain’s longest-running disputes, reaffirming that the platform’s early Genesis ADA allocations were private earnings for foundational work and risk and not community-owned funds waiting to be spent.

Hoskinson’s remarks came during a November 30 livestream titled “Genesis ADA,” where he called the matter “closed” and warned against rewriting the project’s original terms.

Calls to redirect Genesis ADA toward integrations

Hoskinson said renewed calls to redirect Genesis ADA toward recent integrations misrepresent how the project was structured from the beginning.

He explained that the allocation given to Input Output (IO) and EMURGO followed a straightforward premise: these were profits tied to early risk, not contributions to a public treasury.

At the time of the Japanese crowd sale that funded Cardano, IO’s portion was worth around $8 million.

Hoskinson emphasised that this funding model was understood by all parties involved, stating that early contributors accepted deep regulatory, technical, and financial risk at a stage when failure was far more likely than success.

He noted that most cryptocurrency ventures collapse, yet Cardano not only survived but grew into a network valued in the tens of billions.

From that perspective, the Cardano founder argued that the founding entities’ profits were earned rather than taken from any community allocation.

He criticised what he called a “Twitter mob” mentality that surfaced whenever Genesis ADA reentered public debate.

He said the claim that early contributors do not deserve their allocation ignores the enormity of the risk they assumed and the substantial ecosystem they helped build.

He pointed to the initial capital provided by Japanese buyers and stressed that those early stakeholders have long been “made whole” under the terms originally agreed upon.

Why the issue reemerged

The latest wave of concern stems from a joint request for 70 million ADA from the on-chain treasury to fund integrations with major providers, including oracle networks and stablecoin issuers.

Some community members argued that Genesis ADA should cover those costs.

But Hoskinson dismissed the idea, noting that many of today’s integration partners did not exist when Genesis ADA was allocated, making the expectation retroactive and unreasonable.

He added that the requested treasury funds would not cover all expenses, and entities such as IO and the Midnight Foundation would contribute additional support because they hold significant positions in ADA and KNIGHT.

For the founder, the real debate is not about Genesis ADA but about how the ecosystem should evolve as Cardano prepares for a major strategic reset in 2026.

Shift toward a new Cardano governance layer

Hoskinson described this upcoming shift as a move from the original tripartite structure, IO, EMURGO, and the Cardano Foundation, to a more coordinated five-member executive layer.

The expanded group would include the Midnight Foundation and Intersect.

According to Hoskinson, this structure is needed to face a competitive landscape dominated by large and aggressive industry players, where a unified strategy is essential for securing key deals.

He also rejected the suggestion that IO or EMURGO should act as public utilities with balance sheets open for community direction.

As private companies, he said, their financial operations are not subject to community oversight.

Their commitment is limited to the work they promise and deliver.

Hoskinson ended the livestream by urging the community to move forward. He said the outcome of Genesis ADA is settled and cannot be revisited.

The task now, he said, is to decide whether the ecosystem should adopt the proposed 2026 framework and invest in the infrastructure needed for Cardano’s next phase of growth.

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