Sony Group Planning Launch of Crypto Exchange With Acquisition of Amber Japan: Report

Japanese conglomerate and consumer electronics giant Sony Group is reportedly preparing to unveil a crypto exchange platform in its home country.

Blockchain reported Colin Wu says that Sony Group has purchased Amber Japan, the Japanese subsidiary of the digital asset firm Amber Group.

“Singapore market maker Amber Group acquired Japan’s regulated cryptocurrency trading platform DeCurret in early 2022 and changed its name to Amber Japan.

Later, due to the collapse of FTX, Amber Group fell into trouble and was suspected of a complete debt-to-equity transaction with Fenbushi. Amber Group investors include Temasek, Sequoia China, Pantera, Tiger, Coinbase, etc.”

News of Sony Group’s acquisition comes amid the renaming of Amber Japan’s cryptocurrency trading service WhaleFin to S.BLOX, according to a press release. The crypto trading service is expected to undergo a redesign and an expansion of supported assets.

“S.BLOX Co., Ltd. was acquired by Quetta Web Co., Ltd. (a wholly owned subsidiary of Sony Group Corporation) in August 2023 and has been operating cryptocurrency trading services. Going forward, as a member of the Sony Group, we will work to create new added value in cryptocurrency trading services by collaborating with the group’s diverse businesses.”

A little over two years ago, Sony Group invested $1 billion in Epic Games to advance the video game giant’s efforts to build the metaverse. Sony Group’s CEO Kenichiro Yoshida said of the investment at the time,

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.

We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”

 

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