Sony Group, one of Japan's biggest companies, is going to launch a Bitcoin and crypto exchange in Japan after acquiring Amber Group's local subsidiary, Amber Japan.
A firm with so many firsts and a market cap of over $100 billion, Sony has a legendary reputation, almost bleeding into cult, in music, games, and cameras. The jump into cryptocurrency now marks a shift in the company's strategy.
In 2023, Sony purchased Amber Japan through its subsidiary Quetta Web.
Amber Japan was originally known as DeCurret before Singapore-based Amber Group bought the Japanese exchange in 2022 and renamed it. Now, Sony has rebranded it as S.BLO and intends to upgrade its user interface and mobile app.
S.BLO announcing its plan for WhaleFin, a company acquired by Sony Group in Aug 2023, said, "By collaborating with various Sony Group businesses, we aim to create new value in cryptocurrency trading services. We look forward to your continued support of WhaleFin."
Due to proactive regulation and high consumer awareness, Japan has emerged as a leading Bitcoin market.
Sony's earlier investment in companies like Columbia Pictures and CBS Records transformed it from an electronics firm into a global media giant. This new acquisition by the company could lead to a similar evolution for Bitcoin.
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