Sony Group to Enter the Cryptocurrency Trading Business Through S.BLOX's Whalefin

Sony Group, the Japanese multinational conglomerate, will enter the cryptocurrency trading services business through its newly revamped S.BLOX subsidiary. The company, previously known as Amber Group, operated a cryptocurrency exchange called “Whalefin,” which will be renewed with the release of a new app, new functions, and support for more cryptocurrency assets.

Sonny Group to Dabble in the Cryptocurrency Trading Through ‘Whalefin’ Exchange Revamp

Sony Group, the Japanese conglomerate, is entering the cryptocurrency exchange business. According to a press release, S.BLOX, a company owned by Quetta Web, a subsidiary of Sony Group, will undergo a revamp of its cryptocurrency trading exchange “Whalefin.”

S.BLOX, known as Amber Group, recently changed its name after being acquired in August 2023 and was previously operating by offering cryptocurrency trading services. There are plans to revamp Whalefin, redesign its user interface (UI) screen, and release a new app to provide an “easier-to-use service” to its customers. In addition, after this revamp, S.BLOX plans to expand the cryptocurrencies supported and improve the functions offered.

Sota Watanabe, CEO of Startale Labs, stated that the executive who would lead the exchange at Sony was Startale’s external director. “We have made a plan of the chain layer 1.5 years ago and we entered the execution phase,” he declared.

In September, Sony Network Communications announced a joint initiative with Startale Labs to create a blockchain that would become the backbone of Sony’s Web3 strategy. The goal of this partnership was to provide different services for companies of the Sony group in areas such as game and network services, music, pictures, entertainment technology and services, imaging and sensing solutions, and financial services.

Before, on February 2023, Sony Network Communications had partnered with Astar Network, a multichain smart contracts platform, to launch an incubation program for projects leveraging non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) in their business plans. The company would select 10 to 15 of the initiatives presented to be funded.

What do you think about the involvement of Sony Group in the cryptocurrency exchange business through Whalefin and S.BLOX? Tell us in the comments section below. #Write2Earn