Bastion was selected as the sole stablecoin issuance provider for Sony Bank on December 1, 2025. Sony Bank plans to launch a USD-backed stablecoin in 2026 for treasury operations and in-app payments, pending regulatory approval. Traditional card network interchange fees range from 1.5% to 3.5% per transaction, compared to a few cents for stablecoin transactions with settlement in seconds. Bastion provides white-label infrastructure covering reserve management, compliance, and transaction processing without issuing its own stablecoin. The company operates under a New York Department of Financial Services limited purpose trust charter and counts Coinbase Ventures, Sony Innovation Fund, and a16z crypto among its investors.
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