Amber Japan, the operator of the popular Japanese crypto trading service WhaleFin, has rebranded to “S.BLOX”.
In a press release dated July 1, the company, now managed by a Sony Group subsidiary, revealed plans to expand its range of supported currencies and features following the rebranding. However, specific details about when it would start full operations were not disclosed.
The rebranded S.BLOX aims to leverage Sony Group’s extensive business portfolio to create new value in the cryptocurrency trading service sector.
Founded in 2018 as DeCurret, the company was acquired by the Japanese subsidiary of Singapore’s Amber Group in 2022 and then by Sony Group’s subsidiary, Quetta Web, in 2023.
Amber Group had emphasized, at the time, that the acquisition would enable it to provide regulated crypto exchange and custody services in compliance with Japan’s financial market regulations, as DeCurret was registered with Japan’s Financial Services Agency. However, the exchange reportedly faced significant challenges in 2022 due to exposure to the collapsed FTX exchange.
Sony’s acquisition follows Amber Group’s April 2023 announcement that it was considering selling its Japanese subsidiary to focus on institutional rather than retail business.
This move is the latest in Sony’s recent foray into the emerging sector and related technologies. The company recently announced a collaboration with Siemens to explore industrial applications in the Metaverse. The partnership aims to introduce a new mixed-reality headset in 2024, tailored for professional designers and engineers rather than gamers. In an interview with CNBC, Siemens CEO Roland Busch stated that the headset, equipped with artificial intelligence, aims to enhance productivity for creators and manufacturers.
Moreover, Sony Network Communications, the conglomerate’s business division, partnered with Japanese blockchain firm Startale Labs in September 2023 to build Sony’s own public blockchain network.
Notably, Sota Watanabe, CEO of Startale Labs, shared on social media that a Startale executive will lead the exchange at Sony. He added that the plans for the collaboration were made over a year ago and have now entered the execution phase.
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