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
Bitcoin Price Set for Potential Increase

Bitcoin's price is projected to rise, with long-term holders anchoring the market at higher levels.

Mississippi College School of Law Introduces Mandatory AI Course for First-Year Students

Mississippi College School of Law mandates a course on artificial intelligence for first-year students, reflecting the growing importance of AI in the legal field.

Legal System Faces Challenges with AI Integration Amid Court Rulings

The integration of artificial intelligence in the legal system is facing significant challenges due to recent court rulings, including concerns about the reliability of AI-generated information and the lack of attorney-client privilege for conversations with AI chatbots.

Michael Arrington Highlights XRP's Role in Crypto Infrastructure Development

Michael Arrington discusses the limitless potential of the XRP ecosystem and Ripple's role in developing essential infrastructure for the crypto industry.

New York Takes Legal Action Against Coinbase and Gemini for Gambling Law Violations

New York has filed lawsuits against Coinbase and Gemini for allegedly violating state gambling laws by offering prediction markets.

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

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