Articlecoin.com - Sony Group has officially entered the crypto exchange market by acquiring Amber Japan, according to a report from Wu Blockchain. Amber Japan, previously known as DeCurret, is a Japanese subsidiary of Amber Group, which provides regulated digital asset trading services.
In 2022, Amber Group expanded its operations to Japan through the acquisition and renaming of Japanese crypto exchange DeCurret to Amber Japan. However, the company faced financial problems because part of its trading capital was exposed to the FTX crypto exchange, which is currently no longer operational.
Following the collapse of FTX, Amber Group raised a $300 million Series C round in December 2022. The round was led by Fenbushi Capital, with participation from prominent investors such as Temasek, Sequoia China, Pantera, Tiger, and Coinbase. This funding aims to protect customers who lost money due to the collapse of FTX.
The latest move is part of Sony's strategy to diversify its portfolio, which currently has a market value of more than $100 billion. Over the past few years, Sony has been exploring the use of non-fungible tokens (NFTs) and blockchain in games.
In March 2023, Sony filed a patent for an “NFT Framework for Transferring and Using Digital Assets Between Gaming Platforms.” The patent outlines a cross-platform NFT usage system, including features such as NFT-locked gameplay, limited-use in-game tasks, and rewarding players via NFTs