Sony Enters Crypto Market Officially With Acquisition of Amber Japan
Sony is set to enter the crypto market officially with its acquisition of Amber Japan, a licensed crypto news exchange. The deal, expected to revive Amber's international expansion plans, will see the exchange relaunched as S.BLOX under Sony's leadership.
Sony's interest in blockchain technology is not new. The company has been working on its own public blockchain platform and has filed a patent for the use of NFTs in gaming. Now, with the acquisition of Amber, Sony aims to integrate crypto services into various sectors of its business, creating synergies.
The acquired exchange, previously known as Amber, faced layoffs following the collapse of FTX. However, it remains licensed by the Japanese financial regulator. Sony plans to redesign Amber's WhaleFin app under the new S.BLOX brand, with Jun Watanabe, the new Director of S.BLOX, aiming to explore new business areas through the partnership.
Henry Chang, the expected director of Startale Labs, is set to lead Sony's blockchain division. Sony's entry into the crypto news market has been a long-term goal, with the company attempting to gain a foothold for several years.
Sony's acquisition of Amber Japan marks its official entry into the crypto business. With plans to integrate crypto services into its various sectors and explore new business areas, Sony's move into the crypto market is expected to bring significant changes and opportunities.
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