Sony Taps Crypto Exchange Market with Amber Japan Acquisition

• Sony has reportedly acquired a regulated crypto exchange.
• The move comes after Sony filed its NFT patent last year.
• The company seems to be betting big on Web3 and crypto.

After dabbling in non-fungible tokens (NFTs), Sony Group has reportedly made its “all-in” foray into crypto by acquiring Amber Japan.

Amber Japan is a rebranding of the regulated Japanese crypto exchange DeCurrent, which Amber Group’s subsidiary WhaleFin acquired in February 2022. Amber Group operates as a global digital asset platform with offices in Asia, Europe, and the Americas.

Sony Reportedly Acquires Amber Japan

On July 1, Wu Blockchain announced on X (Twitter) that Sony had acquired Amber Japan.

Exclusive: Sony Group, one of Japan's largest companies, has acquired Amber Japan, officially entering the crypto exchange field. Sony's businesses include games, music, cameras, etc., with a market value of more than $100 billion. Singapore market maker Amber Group acquired… pic.twitter.com/XOHFIUmKtJ

— Wu Blockchain (@WuBlockchain) July 1, 2024

While Sony has yet to make an official statement, Amber Japan issued a press release later on Monday, notifying users of the rebranding of its crypto trading service WhaleFin to S.BLOX Co., Ltd.

“"WhaleFin" is scheduled to be renewed in the future. The company will become a subsidiary of the Sony Group in 2023 and will promote collaboration within the Sony Group in the future.” The statement read.

Amber Japan said Quetta Web Co., Ltd, Sony Group’s wholly owned subsidiary, acquired S.BLOX Co., Ltd. in August 2023 “and has been operating cryptocurrency trading services.”

“Going forward, as a member of the Sony Group, we will work to create new added value in cryptocurrency trading services by collaborating with the group's diverse businesses.” Amber Japan wrote.

The acquisition is part of Sony’s move to diversify its extensive portfolio, which boasts a market value of over $100 billion. It follows the company’s initiative to explore the use of NFTs and blockchain in gaming in the past few years.

Sony filed a patent for “NFT Framework for Transferring and Using Digital Assets Between Games Platforms” in March last year, outlining a system for using NFTs cross-platform.

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