Sony Prepares to Launch Cryptocurrency Centralised Exchange in Japan with Acquired Amber Platform

Japan’s diversified conglomerate Sony is preparing to introduce a cryptocurrency exchange subsidiary by overhauling the local trading platform WhaleFin, which it acquired last year, as stated in a press release on PR Times on Monday.

WhaleFin has been rebranded to S.BLOX Co., which aims to work alongside other Sony Group businesses to enhance the value of its cryptocurrency trading services, according to the announcement.

The overhaul includes a redesigned user interface and a new mobile app focused on improving usability, the release indicated. The specific launch date for the S.BLOX cryptocurrency exchange has not yet been announced.

The cryptocurrency trading platform originally began as the Japanese exchange DeCurret, which was acquired by the Japanese branch of Singapore’s Amber Group in 2022. In August 2023, Quetta Web Co., a wholly-owned subsidiary of Sony, took over the platform, as noted in a 2022 press release.

Sony has been actively working to broaden its footprint in the Web3 space. Last year, Sony Network Communications, a division of the conglomerate, collaborated with the Japanese blockchain company Startale Labs to develop Sony’s proprietary public blockchain network.

Sota Watanabe, the founder and CEO of Startale Labs, announced on X on Monday that Startale’s external director will head Sony’s upcoming cryptocurrency exchange, although he didn’t provide additional specifics.

Additionally, last year, the PlayStation manufacturer submitted a patent for a more adaptable use of NFTs as in-game assets, which they referred to as “super-fungible tokens.”