In the rapidly evolving cryptocurrency landscape, we have seen lots of developments in 2024, from the approval of spot Bitcoin ETF (Exchange Traded Fund) in the United States to various other advancements. In this ongoing development, technology giant and conglomerate Sony Group is set to revive the Japanese cryptocurrency exchange Whalefin.
Sony set to restart Japanese crypto exchange Whalefin
According to a recent update by Japanese local media, Sony is planning to restart Amber Japan a cryptocurrency trading firm that was acquired by its subsidiary group Quetta Web last year in August 2023. However, WhaleFin shared a report that
“Our company, Amber Japan Co., Ltd., changed its name to S.BLOX Co., Ltd. on July 1, 2024. Our company was acquired by Quetta Web Co., Ltd., a wholly-owned subsidiary of Sony Group Corporation, in August 2023, and has since been operating as an affiliate of the Sony Group.”
WhaleFin also stated “We released an improved version of WhaleFin on January 31, 2024, but we plan to renew the WhaleFin service in the future, and we plan to further improve the UI screen design and release apps. In addition, by collaborating with various businesses of the Sony Group, we will work to create new added value in cryptocurrency trading services.
However, Sony Group is soon to start the crypto exchanges with a new app, as per the Japanese local media. Sony has previously engaged in Web3 ventures through various investments and partnerships. The company collaborated with Astar Network on a Web3 incubation program and filed a patent for transferring non-fungible tokens (NFTs) between different games and consoles. This new venture with Whalefin signifies Sony’s deeper commitment to the crypto industry.
Last year, Bloomberg reported that Amber Group, based in Hong Kong, was looking to sell its Japan unit due to the country’s stringent regulations.
Sony Group’s Web3 investment
Additionally, Sony Group has been continuously appreciating and making a strategic investment in Web3. In 2023, Sony made a several investment from investing $3.5 million in StarLabs to develop global web3 infrastructure to file patents for NFT framework and many more as reported by Todayq News.
Following all these latest developments, currently, the overall cryptocurrency market is up by 2.2%. Whereas, top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have also experienced an impressive price surge of over 2.3%, 2.7%, and 4.5% respectively in the last 24 hours.