[NEWS] Sony Group enters cryptocurrency exchange business through S.BLOX's Whalefin

Amber Japan, which operates the cryptocurrency (virtual currency) trading service "WhaleFin," announced on the 1st of July that it will change its name to S.BLOX Co., Ltd. and renew its services.

The company also revealed that it had acquired S.BLOX through Quetta Web, a Sony Group subsidiary, in August last year. This marks Sony's full-scale entry into the cryptocurrency industry.

As a member of the Sony Group, the company said it will work with the group's various businesses to create new added value in cryptocurrency trading services.

According to the announcement, the renewal of the currently offered WhaleFin will include an improved UI screen design and the release of a new app. After the renewal, it seems that the company plans to further expand the supported currencies and functions.

Focus on Web 3.0 field

Sony has already shown its intention to focus on the Web 3.0 field.

Last September, Sony Bank announced that it would establish a joint venture with Starrale Labs, the Japanese company behind Astar Network, to develop its own blockchain.

Sony Bank has also demonstrated its commitment to diversifying its business by releasing a smartphone app for the Web 3.0 entertainment sector called "Sony Bank CONNECT" and launching a demonstration experiment to issue stable coins for use in games and other media.

Reference: Press release

Image: Shutterstock

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