According to TechFlow, on July 1, FinanceFeeds reported that Sony, a Japanese multi-industry giant, will launch a cryptocurrency trading subsidiary, S.BLOX Co., by restructuring WhaleFin, a local trading platform acquired last year. WhaleFin has now been renamed S.BLOX Co. and plans to work with other businesses of the Sony Group to enhance its crypto trading services. The restructuring includes a redesigned user interface and a new mobile app to provide a more user-friendly experience, but the exact launch date of the S.BLOX exchange has not yet been announced.
The crypto trading entity was originally a Japanese crypto exchange DeCurret, which was acquired by the Japanese subsidiary of Singapore's Amber Group in 2022. In August 2023, Sony's wholly-owned subsidiary Quetta Web Co. acquired the platform. Sony is actively expanding its influence in the Web3 field, and last year it partnered with Japanese blockchain company Startale Labs to build Sony's public blockchain network. In addition, Sony also applied for a patent last year to more flexibly use NFTs as in-game assets, called "super fungible tokens." Sony has also established a regional office in Singapore to carry out development and consulting business related to NFT products.