Happycoin.club - Over the past couple of years, large firms have been entering the cryptocurrency industry. In particular, the diversified Japanese conglomerate Sony (TYO:6758) decided to acquire Amber Japan, a well-known crypto firm in the local market. With this deal, Sony makes its debut in the cryptocurrency exchange sector.
Sony, which has a market valuation of $100 million, has long been talking about diversifying its assets. To do this, the company entered the cryptocurrency market. Last year, Sony's subsidiary Network Communications, in collaboration with Japanese blockchain startup Startale Labs, created Sony's own public blockchain network.
The Japanese cryptocurrency trading company was originally called DeCurret Cryptocurrency Exchange. It was first acquired in 2022 by Singapore's Japanese subsidiary Amber Group. In August 2023, it was acquired by a subsidiary of Sony Quetta Web Co.
To focus on its core business, Amber announced last year it would cut its consumer offerings as well as its non-essential businesses.
