Sony Bank Plans Its Own Stablecoin
April 5, 2024
Sony, the Japanese conglomerate in the gaming and entertainment industry, announced the issuance of its own stablecoin on the Polygon network through its banking arm, Sony Bank. The token, based on a proof-of-concept mechanism, would be pegged to fiat currency and primarily aimed at adoption in the gaming sector. Due to the benefits of reduced payment and transfer fees, the company is currently examining potential legal issues related to the transfer of Japanese yen-based stablecoins.
