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
Gemini Exits Canada to Focus on US Market

Gemini, led by the Winklevoss twins, is withdrawing from Canada and other secondary markets to concentrate on the US.

JPMorgan Faces Scrutiny Over Past Manipulative Conduct

JPMorgan faces scrutiny due to past manipulative conduct, having paid over $920 million for deceptive practices in precious metals futures.

John E Deaton Accuses JPMorgan of Manipulating Bitcoin Prices

John E Deaton accuses JPMorgan and CEO Jamie Dimon of manipulating Bitcoin prices through paper markets, drawing parallels to past manipulations in precious metals.

DDC Continues Bitcoin Accumulation Amid Corporate Shift

DDC has purchased an additional 105 BTC, reflecting a growing trend among corporations to secure Bitcoin as a treasury asset.

Galaxy Digital Refutes Quantum Computing Concerns Over Bitcoin Trade

Galaxy Digital refutes claims that a significant Bitcoin trade was motivated by fears of quantum computing threats.

Bullish Reports Significant Q4 Loss Amid Market Downturn

Bullish reported a significant Q4 net loss of $563 million, a stark contrast to the previous year's profit of $1,048 million, highlighting vulnerabilities in the current market.

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