Sony Group, the renowned Japanese conglomerate and consumer electronics titan, is gearing up to launch its own cryptocurrency exchange platform in Japan. According to Blockchain reporter Colin Wu, this initiative follows Sony Group’s acquisition of Amber Japan, the Japanese arm of digital asset firm Amber Group.
Amber Group, originally acquiring Japan’s regulated cryptocurrency trading platform DeCurret and rebranding it as Amber Japan in early 2022, faced challenges later due to issues surrounding FTX and reportedly underwent a significant debt restructuring with Fenbushi Ventures. Noteworthy investors in Amber Group include Temasek, Sequoia China, Pantera, Tiger Global, and Coinbase.
Sony Group’s acquisition coincides with the rebranding of Amber Japan’s crypto trading service WhaleFin to S.BLOX, as indicated in a recent press release. The revamped service is set to undergo enhancements, including an expanded range of supported assets.
“S.BLOX Co., Ltd., now a wholly owned subsidiary of Sony Group Corporation through Quetta Web Co., Ltd., has been actively operating cryptocurrency trading services since its acquisition in August 2023. As part of the Sony Group, we aim to innovate and add new value to cryptocurrency trading services by leveraging synergies with our diverse business portfolio,” stated the announcement.
Over two years ago, Sony Group made headlines with a $1 billion investment in Epic Games, emphasizing their commitment to advancing the metaverse. Sony Group CEO Kenichiro Yoshida highlighted the strategic importance of this investment in expanding digital fan experiences in sports and virtual production initiatives, leveraging Epic’s expertise in game development alongside Sony’s technology.
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