In this post
- Japan’s Sony Group will officially onset into the crypto industry with a new exchange/
- The new exchange will focus on user experience
The Japanese tech behemoth Sony Group will restart a cryptocurrency exchange it acquired back in 2023. WhaleFin, a Japanese crypto exchange, recently made an announcement about the project without disclosing a lot of the information.
Sony Gets Into Crypto
The Singapore-based Amber Group acquired DeCurret, a regulated Japanese crypto trading platform, in 2022 and renamed it Amber Japan. After the collapse of FTX, Amber Group suffered the crypto winter market effect and was suspected of having fallen into debt.
Later, in 2023, Sony acquired Amber Japan through its subsidiary, Quetta Web Co., Ltd. Now, the tech giant intends to restart the crypto exchange WhaleFin. Whalefin also mentioned in the announcement that its parent company, Amber Japan, was rebranding to S.BLOX.
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The details regarding the launch date of the S.BLOX crypto exchange have yet to be made public. However, reports suggest the makeover includes redesigning the user interface, crypto trading services, and a new mobile app with an easy user interface.
On Monday, Sota Watanabe, founder and CEO of Startale Labs, said on X that Startale’s external director will lead Sony’s new crypto exchange. The announcement reads, “… the head of Web3 who is going to lead exchange at Sony is our external director of the company. We have made a plan of the chain layer 1.5 years ago and we entered the execution phase.”
Sony has been making efforts to expand its presence in Web3. The entity had partnered with the Astar Network for a Web3 incubation program. In addition, it filed a patent for an NFT framework. The patent outlines the transfer and use of digital assets between games platforms.
With the statement from WhaleFin, Sony will officially venture into the Crypto space with its own product. Sony has a vast user base that can benefit the tech giant in the future.
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