As a researcher with a background in technology and finance, I’m excited to see Sony entering the cryptocurrency exchange market. The company’s acquisition of S.BLOX, which was previously known as DeCurret and then Amber Japan, marks its second buy of the crypto trading entity since its inception. This shows that Sony is serious about expanding its presence in the digital asset space.
Sony, the renowned Japanese corporation, is preparing to debut its own cryptocurrency exchange. To achieve this, the company plans to reactivate a previously acquired crypto trading platform, which was bought in August 2023.
In a recent press announcement, it was revealed that Amber Japan, the preceding name of the Japanese cryptocurrency exchange WhaleFin which was obtained by Sony last year, has undergone a renaming process and will now be known as S.BLOX. Sony is reportedly gearing up to launch its digital asset trading services in the near future using this newly rebranded entity.
Sony to Launch Crypto Exchange
Last year, Quetta Web, a completely owned affiliate of Sony Corporation, obtained S.BLOX. Prior to this purchase, S.BLOX functioned as DeCurret, a digital asset trading company. In 2022, Amber Japan – the Japanese branch of Singapore’s Amber Group – took over DeCurret, causing it to be renamed. Consequently, Sony is now the second entity to acquire this firm since its establishment. The specifics of both transactions continue to be kept confidential.
As a researcher studying the developments at Sony, I’ve observed that since the acquisition of S.BLOX, it has operated as a subsidiary under Sony’s umbrella. Recently, there have been indications that Sony intends to revitalize its crypto trading services through S.BLOX. In a recent announcement concerning the company name change, S.BLOX disclosed that they had already launched an updated version of their business this year following the acquisition. However, further enhancements are on the horizon.
The exchange’s services will be refreshed through the launch of a novel app and an overhauled user interface design. Moreover, S.BLOX plans to broaden its horizons by accommodating additional cryptocurrencies and features.
As a crypto investor and part of the Sony Group, I’m excited to announce that we will be working together to generate new value in cryptocurrency trading services. By collaborating with the various businesses within the group, I believe we can create innovative and effective offerings for our customers. I want to express my gratitude for choosing WhaleFin on your crypto investment journey.
Sony’s Full Foray Into Crypto
As a crypto investor, I’m excited to announce that S.BLOX’s crypto trading services are being restarted, marking Sony’s significant entry into the cryptocurrency world. Previously, Sony had taken cautious steps in the crypto sphere through acquisitions and investments. But this latest development represents a major commitment from the multinational giant.
Last year, Sony’s fully-owned subsidiary, Sony Network Communications, invested $3.5 million in Singaporean Web3 tech company Startale Labs during a seed funding round with no other participating investors. This investment involved the issuance of new shares in a private placement. (Source: CryptoPotato)
The founder and CEO of Startale Labs, Sota Watanabe, announced that their outside director will head Sony’s cryptocurrency exchange. This arrangement, which has been under development for approximately 18 months, is currently being implemented.
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2024-07-02 02:46