Finance

Sony Enters Crypto Market with Amber Japan Acquisition

Jul 1, 2024 1 min read

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Sony Group has acquired Amber Japan, a Japanese crypto exchange, marking its entry into the cryptocurrency trading platform sector. The acquisition is part of Sony's broader strategy to diversify its business operations and enhance its presence in the Web3 market. Amber Japan, formerly known as DeCurret, was acquired by Singapore-based Amber Group in 2022 and rebranded. The terms of the deal were not disclosed.

The acquisition will lead to the launch of a new cryptocurrency exchange named S.BLOX, replacing the existing WhaleFin platform. S.BLOX will collaborate with other Sony Group companies to enhance its crypto trading services, including expanding supported currencies and functionalities. The revamped platform will feature a redesigned user interface and a new mobile app. The exact launch date for S.BLOX has not been announced.

Sony's move into the crypto sector aligns with its recent explorations in blockchain technology and non-fungible tokens (NFTs). Earlier this year, Sony filed a patent for cross-platform NFT usage in gaming, reflecting its commitment to integrating digital assets into its various business operations. The acquisition is seen as a strategic step in positioning Sony as a key player in the emerging Web3 landscape.

#tech #gaming #playstation #cryptocurrency #business

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