Sony, the Japanese multinational conglomerate corporation, is set to introduce its cryptocurrency exchange in Japan. To achieve this, Sony plans to revive WhaleFin, a crypto trading platform acquired in August 2023. Last year, Amber Japan, the parent company of WhaleFin, which Sony acquired, changed its name to S.BLOX. Sony's subsidiary, Quetta Web, acquired S.BLOX, which was formerly known as DeCurret. The exchange went through ownership changes, with Amber Japan being renamed after an acquisition by the Japanese subsidiary of Singapore's Amber Group. Sony's acquisition of S.BLOX makes it the second owner of the entity since its establishment, with the acquisition details undisclosed. S.BLOX has operated as a Sony subsidiary and is now poised to rejuvenate its crypto trading offerings. The company plans to introduce a new app, redesign the user interface screen, and expand its support for more cryptocurrencies and functions. Sony envisions creating new value in cryptocurrency trading services through collaboration with its diverse businesses. The move signifies Sony's complete entry into the crypto space after previous acquisitions and investments. Sony Network Communications, a Sony subsidiary, made a significant investment in Startale Labs, a Singapore Web3 tech giant. This investment, made during a seed round, was led by Startale Labs' external director, who will oversee Sony's crypto exchange. The plan, in progress for about 18 months, is now progressing towards implementation.
Sony Prepares for Launch of Crypto Exchange in Japan

by Giorgi Kostiuk
2 years ago

Other news
XRP Withdrawal Transactions Plummet to Record Lows

XRP withdrawal transactions on Binance have plummeted from over 8,000 in mid-April to about 12 recently, indicating a potential shift in market behavior.

Fold Holdings Introduces Innovative Bitcoin Bonus Program for Employees

Fold Holdings, Inc has launched a Bitcoin Bonus Program that allows companies to pay recurring BTC bonuses to employees, starting with Steak n Shake.

Global Interest in Crypto Derivatives Surges Amid Regulatory Changes

Global interest in crypto derivatives is rising as Thailand's SEC proposes new rules, with Blockchain.com launching perpetual futures trading and Kraken's parent company acquiring Bitnomial.

Thailand's SEC Proposes Streamlined Licensing for Crypto Derivatives

Thailand's SEC has proposed a new rule allowing digital asset companies to apply for derivatives licenses directly, streamlining the process.

Sam Bankman-Fried Withdraws His Request for a New Trial

Sam Bankman-Fried has officially withdrawn his request for a new trial, believing he would not receive a fair hearing.

Polymarket Traders Cash In on Temperature Spikes in Paris

Traders on Polymarket made significant profits from unusual temperature spikes reported by Météo France, leading to a police complaint.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter