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Sony Reveals Owns Cryptocurrency Exchange, Renames It S.BLOX – Ledger Insights
Last year Sony made a discreet acquisition of Amber Japan (formerly DeCurret), a local cryptocurrency exchange. Multiple outlets have reported that Sony is planning to launch a cryptocurrency exchange, but Amber Japan has continued to operate after Sony acquired it in August 2023. It was under the radar because the acquisition was made through Sony’s subsidiary Quetta Web, which does not appear to have a website. Today, Amber Japan announced that it will be changing its name to S.BLOX and revealed its Sony ownership.
S.BLOX said it updated its WhaleFin cryptocurrency offering in January and is continuing to improve it. It plans to partner with various Sony Group companies. However, it already has a promotional offer for customers of Nuro Mobile, Sony’s mobile phone contract reseller. New WhaleFin signups receive 3,000 yen worth of Bitcoin, equivalent to $18.60. Nuro Mobile is part of Sony Network Communications.
Last year the same division Invested in Startale Labsthe founder of Astar Network, a Polkadot parachain. He also created a joint venture with Startale to create a Sony blockchainwith plans to leverage the group’s intellectual properties across the metaverse. With its ownership of Sony Pictures, Music, and PlayStation, the group has many brands it can distribute.
Meanwhile, Sony Bank is about to launch its Sony Bank Connect App to offer NFT entertainment rewards linked to financial products. It began pre-registering users for the web3 app two weeks ago. The group also provides an NFT marketplace, SNFT, where users can value their NFTs.
The digital bank has been quite active in the blockchain space. For example, it is planning to issue Stablecoin on Polygon BlockchainIn March it experimented with a $1 million issuance of a green finance security token aimed at retail investors using dollars, having previously launched its own real estate token.
Given the large amount of intellectual property within the Sony Group, it is easy to imagine how blockchain could bring together offerings from different parts of the group.