Sony enters digital currency market

In addition to taking over the Japanese blockchain Astar development company Starale, Sony, a well-known Japanese company, plans to launch a new digital currency exchange subsidiary: S.BLOX by transforming the trading service platform WhaleFin acquired last year.

The story of Amber Japan’s transformation into S.BLOX Co.

Amber Group’s legacy companies in Japan

Amber Group is a cryptocurrency trading services company registered in Singapore. In 2022, Amber Japan acquired Japanese compliance exchange DeCurret (Amber Group renamed it WhaleFin). However, Amber Group has experienced events such as FTX and the death of its co-founder, and has been moved in by external investors.

In August 2023, Quetta Web, a wholly-owned subsidiary of Sony Group, acquired Amber Japan, and its Japanese cryptocurrency exchange "WhaleFin" changed the company name to S.BLOX on July 1, 2024.

The newly formed company plans to work closely with other companies within the Sony Group to increase the value and impact of its digital currency trading services. The revamped platform will feature a redesigned user interface and a new APP.

Leadership will be provided by Startale external directors

Sota Watanabe, founder and CEO of Startale Labs, announced that an outside director from Startale will lead Sony’s new digital currency exchange. However, specific details about this leadership role and the exact launch date of the S.BLOX digital currency exchange have not yet been revealed.

Source: X

Sony Gaming and NFT Innovation

In addition to plans for a digital currency exchange, Sony has also entered the field of non-fungible tokens (NFT). Last year, the PlayStation maker filed for a patent for a "hyper-fungible token" designed to provide more flexibility in how NFTs can be used as in-game assets. Although NFTs have lost popularity, perhaps Sony will be able to bring NFTs to a new era.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.

  • This article is reprinted with permission from: Lian News