Sony to Launch a Crypto Exchange in Japan

TL;DR

• Sony is preparing to launch a crypto exchange in Japan after local cryptocurrency exchange WhaleFin last August.

• The company is expanding its base in the Web3 ecosystem as it also operates a public blockchain.

Sony to Rebrand Acquired WhaleFin Exchange

Japan’s multi-industry conglomerate Sony is working towards launching a cryptocurrency exchange subsidiary. In its statement earlier today, the company said the crypto exchange will be a revamp of the local trading platform WhaleFin which it acquired last year. 

Sony has renamed WhaleFin to S.BLOX Co. The new crypto exchange will partner with Sony Group’s other businesses to generate additional value for its crypto trading services. 

The newly revamped crypto exchange also comes with a redesign of its user interface and a new mobile app that will be easier to use. Sony is yet to announce the exact launch date of the S.BLOX crypto exchange. 

The trading platform was initially the Japanese crypto exchange DeCurret and was later renamed to WhaleFin after the Japanese subsidiary of Singapore’s Amber Group acquired it in 2022. In August 2023, Sony’s wholly-owned subsidiary Quetta Web Co. acquired the platform.

Sony is looking to expand its presence in the Web3 ecosystem, with the launch of its public blockchain network a statement to this intent. The tech giant also filed a patent last year to ensure more flexible use of NFTs as in-game assets.