Sony Group Plans to Launch Cryptocurrency Exchange with Amber Japan Acquisition: Report

Japanese conglomerate and consumer electronics giant Sony Group is reportedly preparing to launch a cryptocurrency exchange platform in the country.

Sony Group has acquired Amber Japan, the Japanese subsidiary of digital asset firm Amber Group, according to reports from Blockchain analyst Colin Wu.

“Singaporean market maker Amber Group acquired regulated Japanese crypto trading platform DeCurret in early 2022 and renamed it Amber Japan.

Later, due to the collapse of FTX, Amber Group got into trouble and was suspected of a complete debt-to-equity swap deal with Fenbushi. Amber Group investors include Temasek, Sequoia China, Pantera, Tiger, Coinbase, etc.”

The news of the Sony Group acquisition comes amid a name change for cryptocurrency trading service Amber Japan from WhaleFin to S.BLOX, according to a press release. The cryptocurrency trading service is expected to undergo a redesign and expansion of the assets it supports.

“S.BLOX Co., Ltd. was acquired by Quetta Web Co., Ltd. (a wholly owned subsidiary of Sony Group Corporation) in August 2023 and provides cryptocurrency trading services. In the future, as a member of Sony Group, we will work to create new added value in cryptocurrency trading services through cooperation with various group enterprises.”

A little over two years ago, Sony Group invested $1 billion in Epic Games to accelerate the video game giant’s efforts to build a metaverse. Sony Group CEO Kenichiro Yoshida said of the investment at the time:

“As a creative entertainment company, we are excited to invest in Epic to deepen our collaboration in the metaverse – the space where creators and users share their time.

We are also confident that Epic’s expertise, including its powerful game engine, combined with Sony’s technologies will accelerate our various efforts, such as developing new digital experiences for sports fans and our virtual production initiatives.”

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