KEYTAKEAWAYS
- Sony to launch crypto exchange through acquired platform S.BLOX
- Relaunch includes new app, redesigned UI, and expanded cryptocurrency support
CONTENT
Sony’s subsidiary S.BLOX, formerly known as Amber Japan and WhaleFin, prepares to relaunch crypto trading services with improved features and expanded offerings, marking the conglomerate’s significant entry into the digital asset space.
In a bold move that signals its commitment to the burgeoning cryptocurrency sector, Japanese multinational conglomerate Sony is poised to launch its own digital asset exchange. This significant step is being realized through the revival of a previously acquired crypto trading platform, demonstrating Sony’s strategic approach to entering the crypto market.
According to a recent press release, Sony’s wholly-owned subsidiary, Quetta Web, is at the helm of this venture. The company acquired a crypto exchange platform in August 2023, which has since undergone multiple transformations. Originally known as DeCurret, the platform was renamed Amber Japan after its acquisition by the Japanese subsidiary of Singapore’s Amber Group in 2022. Now, under Sony’s ownership, it has been rebranded as S.BLOX.
The imminent relaunch of S.BLOX’s crypto trading services represents a major milestone in Sony’s crypto journey. The company has announced plans for substantial improvements, including the release of a new application and a complete overhaul of the user interface. These enhancements are designed to provide a more intuitive and user-friendly trading experience.
Moreover, S.BLOX has ambitious plans to expand its offerings. The platform intends to support a wider range of cryptocurrencies and introduce new functionalities, although specific details remain undisclosed at this time.
In an official statement, S.BLOX expressed its commitment to innovation: “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.”
This move is not Sony’s first foray into the crypto and blockchain space. In 2023, Sony Network Communications, another subsidiary of the tech giant, made a $3.5 million seed investment in Startale Labs, a Singapore-based Web3 technology company. This earlier investment hints at Sony’s growing interest in decentralized technologies.
Interestingly, Sota Watanabe, the founder and CEO of Startale Labs, has revealed that the external director of his company will be leading Sony’s crypto exchange initiative. According to Watanabe, this plan has been in development for approximately 18 months and is now entering its execution phase.
The launch of a crypto exchange marks Sony’s most significant step into the digital asset ecosystem to date. It reflects the increasing mainstream acceptance of cryptocurrencies and blockchain technology, especially among established tech companies.
As Sony prepares to make its mark in the crypto trading arena, industry observers and potential users alike will be watching closely to see how the tech giant’s expertise in consumer electronics and entertainment might translate into innovative features for digital asset trading.
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