Sony Acquires Amber Japan, Enters the Crypto Exchange Market

Sony Amber Japan Crypto
Sony Group has made its initial foray into the cryptocurrency exchange industry by acquiring Amber Japan, a Japanese crypto exchange formerly known as DeCurret.

Amber Japan, now headquartered in Tokyo and rebranded as S.BLOX following the acquisition, announced this change in a press release on July 1. This acquisition signifies Sony’s first significant step into the crypto exchange sector.

Amber Japan, which operates the crypto trading service “WhaleFin,” stated that it plans to “expand the range of supported currencies and features” under its new identity as S.BLOX, although specific details were not disclosed.

The rebranded S.BLOX aims to leverage Sony’s diverse business portfolio to create “new value in the cryptocurrency trading sector,” according to the press release.

Sota Watanabe, CEO of Startale Labs, revealed on X (formerly Twitter) that an executive from Startale will be heading the exchange operations at Sony. He added that they had planned this strategic move approximately 1.5 years ago and are now in the execution phase.

Founded in 2018 as DeCurret, the company was acquired by the Japanese subsidiary of Singapore’s Amber Group in 2022. At that time, Amber Group highlighted that the acquisition would enable it to offer regulated crypto exchange and custody services compliant with Japan’s financial market regulations, as DeCurret was registered with Japan’s Financial Services Agency.

In 2023, Amber Group faced substantial challenges, including cost-cutting measures and job reductions, as it dealt with a downturn in the crypto market following the collapse of FTX. Reports also indicated that the firm halted its international expansion plans due to the wider market impact of the FTX collapse.

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