Sony to Revive Crypto Exchange Whalefin Following Acquisition from Amber Group

Sony is set to relaunch the crypto exchange Whalefin, which it acquired from crypto lender Amber Group in August 2023. The acquisition was first reported by Wu Blockchain and later confirmed by The Block.

Whalefin, originally known as DeCurret, has been rebranded as S.BLOX as of Monday. The acquisition was facilitated through Quetta Web, a subsidiary of Sony, which took over its parent company, Amber Japan. The financial details of the transaction have not been disclosed.

Amber Group, a prominent crypto finance firm, acquired Amber Japan in 2022. However, due to stringent regulations in Japan, Amber Group was reportedly seeking to divest its Japan unit, as noted by Bloomberg last year.

Sony plans to relaunch the crypto exchange with a new app, marking its official foray into the crypto market. While Sony has previously explored Web3 through various investments and partnerships, this move represents a significant expansion into the crypto space. The company has collaborated with the Astar Network on a Web3 incubation program and has filed a patent for transferring non-fungible tokens (NFTs) between games and consoles.

Neither Sony nor Amber Group provided comments on the acquisition.

This development underscores Sony’s increasing interest in the crypto and Web3 sectors, potentially broadening its offerings beyond gaming and entertainment. The relaunch of Whalefin is anticipated to bring new opportunities to the crypto market, leveraging Sony’s substantial resources and expertise.

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