Sony acquires Amber platform to get into crypto

Sony, Japan’s multi-industry conglomerate, is preparing to launch a cryptocurrency exchange subsidiary by revamping the local trading platform WhaleFin, which it acquired last year. The platform has been renamed S.BLOX Co., which plans to collaborate with Sony Group’s other businesses to generate additional value for its crypto trading services.

• The revamp includes a redesigned user interface and a new mobile app to enhance user experience.
• Originally known as the Japanese crypto exchange DeCurret, the platform was acquired by Sony’s subsidiary Quetta Web Co. in August 2023.
• Sony Network Communications partnered with Japanese blockchain firm Startale Labs to build Sony’s public blockchain network.

The exact launch date of the S.BLOX crypto exchange has not been announced. Sota Watanabe, founder and CEO of Startale Labs, revealed that Startale’s external director will lead Sony’s new crypto exchange, though details are still forthcoming. Additionally, Sony filed a patent last year for more flexible use of NFTs as in-game assets, dubbed “super-fungible tokens.”