Sony moves into cryptocurrency
Foreign media "The Block" recently reported that technology giant Sony is preparing to reinvent WhaleFin, the Japanese cryptocurrency exchange it acquired last year, including improving and updating the user interface design, and launching new applications and services that are simpler and easier to use. . After the transformation, the currencies supported by the exchange will also be increased.
According to Wu Shuo Blockchain Information, Singaporean market maker Amber Group acquired the Japanese cryptocurrency exchange DeCurret in early 2022, renamed it Amber Japan, and launched the digital asset platform WhaleFin in Japan. However, Amber Japan faced significant losses in 2022 due to the collapse of FTX.
In order to alleviate financial problems, Amber Japan conducted a Series C financing in December 2022, raising US$300 million to protect customers affected by the collapse of FTX. In April 2023, Amber Group announced that it was considering selling its Japanese subsidiary. Quetta Web, a subsidiary of Sony Group, stepped in at this time to acquire Amber Japan.
Amber Japan recently issued a statement that from now on the company will be renamed S.BLOX Co., Ltd. In addition to updating WhaleFin, it will also further promote cooperation within the Sony Group. However, the official did not release the exact date for the launch of the new platform.
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Sony's Web3 layout
In addition to restarting the exchange, Sony Group has actually been actively expanding its business in the Web3 field.
In 2023, Sony announced the establishment of a joint venture with the Web3 company Startale Labs to jointly develop the Sony blockchain Sony Chain. The goal is to establish a public blockchain used by the most people and allow people outside Web3 to enter the blockchain field.
Startale Labs founder and CEO Sota Watanabe also revealed on X on Monday that an outside director of Startale will lead Sony’s new cryptocurrency exchange.
In addition to cooperating with Web3 companies, Sony has also applied for a patent for "super-fungible tokens". According to "Bitcoin.com News", it is a token that can be used and traded across game platforms. NFT system.
After acquiring Amber Japan, Sony Group's business scope will continue to expand and include "cryptocurrency" into its existing games, music and electronics businesses. Foreign media "CryptoSlate" believes that this move may increase Sony's market value.
Source: The Block, CoinDesk, Bitcoin.com News, CryptoSlate
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