Japanese conglomerate and consumer electronics giant Sony Group is reportedly preparing to launch a cryptocurrency trading platform in its home country.
Sony Group has acquired Amber Japan, the Japanese subsidiary of digital asset company Amber Group, according to Colin Wu, Blockchain reported.
“Singapore-based market maker Amber Group acquired Japanese regulated crypto trading platform DeCurret in early 2022 and changed its name to Amber Japan.
The collapse of FTX then led to Amber Group running into trouble and being accused of a full debt-to-equity deal with Fenbushi. Amber Group's investors include Temasek, Sequoia China, Pantera, Tiger, Coinbase, and others.
According to a press release, news of the acquisition by Sony Group comes as Amber Japan's cryptocurrency trading service WhaleFin is being rebranded as S.BLOX, which will be redesigned and support an expanded range of assets.
“S-Blocks Co., Ltd. was acquired by Quettaweb Co., Ltd. (a wholly owned subsidiary of Sony Group Corporation) in August 2023 and has been operating cryptocurrency trading services. Going forward, as a member of the Sony Group, we will work with the group's diverse businesses to create new added value in cryptocurrency trading services.”
A little over two years ago, Sony Group invested $1 billion in video game giant Epic Games to advance the company's efforts to build the metaverse. Sony Group CEO Kenichiro Yoshida had this to say about the investment at the time:
“As a creative entertainment company, we're excited to invest in Epic to deepen our relationship in the metaverse, the space where creators and users share their time.
“We are also confident that combining Epic's expertise, including its powerful game engine, with Sony's technology will accelerate our various initiatives, including the development of new digital fan experiences in sports and our virtual production efforts.”
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