Sony Group acquires Amber Japan and officially enters the world of cryptocurrency exchange

Sony Group, a Japanese conglomerate known for its games, music, and cameras, has officially entered the cryptocurrency exchange market with the acquisition of Amber Japan, according to cryptocurrency reporter Wu Blockchain. Amber Japan, formerly known as DeCurret, is the Japanese subsidiary of the global Amber Group, which provides regulated digital asset trading services.

<blockquote class="twitter-tweet” data-width=”500″ data-dnt=”true” wp_automatic_readability=”16.056818181818″>

Exclusive: Sony Group, one of Japan’s largest companies, has acquired Amber Japan, officially entering the cryptocurrency exchange field. Sony’s businesses include games, music, cameras, etc., with a market value of over $100 billion. Singapore-based market maker Amber Group has acquired Amber Japan, the largest cryptocurrency exchange in the world. image.twitter.com/XOHFIUmKtJ

— Wu Blockchain (@WuBlockchain) twitter.com/WuBlockchain/status/1807569214359969968?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>July 1, 2024

According to a Press release Published by PR Times on Monday, Amber Japan, which operates <span class="issue-underline underline decoration-2 underline-offset-4 transition decoration-border-brand-default hover:bg-bg-brand-light-default" data-issueid="203b297d-883e-43af-b0ea-28bf141a51a8" aria-label="open issue for the following text the crypto trading service” data-testid=”issue-underline:undefined”>the cryptocurrency trading service WhaleFin has changed its name to S.BLOX. The WhaleFin platform is scheduled for future renovations, including a redesigned user interface screen and a newmore user-friendly mobile app. The updates will also expand the supported currencies and features.

Amber Group expanded its operations to Japan through crypto-asset-exchange-service-provider-registered-with-japan-financial-services-agency-301471209.html” target=”_blank” rel=”nofollow noopener noreferrer”>acquisition and the rebranding of Japanese cryptocurrency exchange platform DeCurret to Amber Japan in 2022. However, the company faced financial problems due to some of its trading capital exposure to the now-defunct cryptocurrency exchange FTX.

Following the FTX saga, Amber Group modified its fundraising plans and crypto-trader-amber-pockets-300m-series-c-amid-layoff/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cucGVycGxleGl0eS5haS8&guce_referrer_sig=AQAAAHTAqog2vtl82RJRfCGcw0lzQ0oZCLlvU7q-I9ZCAglBtJyc5xlAx-gpdzRdI9RB7Zly5txopSUm7iu8XpWa6kMsRnqAYF-HpPwu1xInqynaq0gchhRPPKNSw7hMsVCyb2QZp1_gYunzyhq-6b2gmJ4YQJIBrdfOnzjBArMuKnZq” target=”_blank” rel=”nofollow noopener noreferrer”>raised $300 million in a Series C round

The latest move is part of Sony's strategy to diversify its portfolio, which already has a market value exceeding $100 billion. Sony has been exploring the use of non-fungible tokens (nfts) and blockchain in gaming for The last few years.

In March 2023, Sony nft-trading-for-playstation-users/” target=”_blank” rel=”nofollow noopener noreferrer”>filed a patent for an “nft Framework for the Transfer and Use of Digital Assets Across Gaming Platforms.” It describes a system for using nfts across multiple platforms, including features such as nft-locked gameplay, limited-use in-game tasks, and rewarding players with nfts.

This is a developing story. We will provide updates on the situation as we learn more.