Sony Group, a renowned Japanese conglomerate and consumer electronics powerhouse, is said to be gearing up to introduce a cryptocurrency exchange platform in its native land. According to Blockchain reporter Colin Wu, Sony Group has acquired Amber Japan, the Japanese arm of digital asset firm Amber Group.

Amber Group, a market maker from Singapore, had previously acquired DeCurret, a regulated cryptocurrency trading platform in Japan, in early 2022 and rebranded it as Amber Japan. Following the demise of FTX, Amber Group encountered difficulties and was suspected of engaging in a full debt-to-equity transaction with Fenbushi. Notable investors in Amber Group include Temasek, Sequoia China, Pantera, Tiger Global, Coinbase, among others.

In tandem with Sony Group’s acquisition, the cryptocurrency trading service of Amber Japan, known as WhaleFin, is being rechristened as S.BLOX, as per an official press release. The revamped crypto trading service is anticipated to undergo a makeover and broaden its range of supported assets.

In August 2023, S.BLOX Co., Ltd. was acquired by Quetta Web Co., Ltd., a wholly owned subsidiary of Sony Group Corporation, and has been actively providing cryptocurrency trading services since then. Looking ahead, as part of the Sony Group, the focus is on innovating cryptocurrency trading services by leveraging synergies with the group’s diverse array of businesses.

A little over two years ago, Sony Group made a substantial investment of $1 billion in Epic Games to bolster the latter’s efforts in constructing the metaverse. CEO Kenichiro Yoshida expressed excitement about the investment, emphasizing the potential for deeper collaboration in the burgeoning metaverse sector, where creators and users interact. Yoshida also highlighted the synergy between Epic’s expertise, especially in its robust game engine, and Sony’s technological capabilities, expecting accelerated progress in digital fan experiences in sports and virtual production ventures.

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