Sony Rebrands Amber Japan to S.BLOX and Plans Major Crypto Exchange Relaunch
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Written by
Yana Levkovich - Updated 2024-07-02 19:30:10
Last year, Sony made a strategic yet discreet acquisition of Amber Japan, formerly known as DeCurret, a local cryptocurrency exchange.
This acquisition, conducted through Sony's subsidiary Quetta Web, flew under the radar due to Quetta Web's lack of public presence.
Recently, Amber Japan announced its rebranding to S.BLOX, officially revealing its Sony ownership. S.BLOX stated it had upgraded its WhaleFin crypto offering in January and plans further enhancements. The exchange aims to collaborate with various Sony Group businesses.
Currently, it offers a promotional deal for Nuro Mobile customers, a Sony mobile contract reseller. New WhaleFin signups receive 3,000 Yen worth of Bitcoin, approximately $18.60. Nuro Mobile operates under Sony Network Communications.
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Strategic Investments Boost Sony's Blockchain Presence
Last year, the same division of Sony invested in Startale Labs, the creator of the Astar Network, a Polkadot parachain.
Additionally, Sony and Startale Labs established a joint venture to develop a Sony blockchain, intending to leverage the group’s intellectual properties across the metaverse.
With assets like Sony Pictures, Music, and PlayStation under its belt, Sony has numerous brands to integrate into its blockchain initiatives.
Sony Bank's NFT Push and Digital Financial Innovations
Sony Bank is also expanding its digital footprint with the upcoming launch of its Sony Bank Connect app, offering NFT entertainment rewards tied to financial products. Pre-registration for the web3 app began two weeks ago.
Additionally, Sony operates an NFT marketplace, SNFT, where users can grade their NFTs.
The digital bank has been active in the blockchain space, planning to issue stablecoins on the Polygon blockchain.
In March, it piloted a $1 million issuance of a green finance security token aimed at retail investors, using dollars, after previously launching its own real estate token.
Bold Step into the Crypto Exchange Market
Sony plans to relaunch the WhaleFin crypto exchange with a new app, as announced on PR Times. This move marks Sony's significant entry into the crypto space.
Previously, Sony had explored Web3 through investments and partnerships, including a Web3 incubation program with the Astar Network and a patent filing for transferring non-fungible tokens (NFTs) between different games and consoles.
