BASTION NAMED SOLE ISSUANCE PROVIDER FOR SONY BANK STABLECOIN

Summary from the TLDR Crypto newsletter

Bastion will act as the sole issuance provider for Sony Bank's new USD-backed stablecoin initiative, handling token issuance, reserve management, and custody for Sony affiliates. The deal marks Sony Bank's entry into the US stablecoin and digital-asset market, using Bastion's regulated infrastructure to support wallets, on/off ramps, cards, and yield products. Backing from Sony Innovation Fund, Coinbase Ventures, a16z crypto, and others demonstrates that large enterprises increasingly want white-label, compliant stablecoin rails rather than building everything in-house.