Sony Bank Launches Web3 Subsidiary BlockBloom to Advance Blockchain Services

Sony Bank, a digital-first subsidiary of Japan's Sony Financial Group, has spun off BlockBloom Inc. to spearhead its Web3 initiatives. The new entity will operate under Japan's regulated digital asset framework, focusing on crypto management, NFT projects, and blockchain infrastructure development.

The MOVE isolates compliance risks from core banking operations while allowing exploration of blockchain-integrated financial services. BlockBloom received $2 million in initial capital, with plans to launch digital wallets and yen-to-crypto conversion services by autumn 2025.

Analysts view the subsidiary structure as a strategic approach to navigating Japan's evolving crypto regulations. The bank anticipates minimal earnings impact for fiscal year 2026, reflecting cautious Optimism about Web3 adoption timelines.