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Sony's New Crypto Exchange on the Horizon

Key Takeaways

  • Sony is preparing to launch a new cryptocurrency exchange in Japan, rebranding the WhaleFin trading platform into S.BLOX;
  • S.BLOX will collaborate with other Sony businesses, offering a redesigned user interface and a new mobile app;
  • Sony's subsidiary Quetta acquired the platform in 2023.
Sony's New Crypto Exchange on the Horizon

Sony Group, the tech conglomerate, is set to debut a new crypto exchange in Japan.

This comes after Sony acquired the local trading platform WhaleFin last year, now rebranded as S.BLOX, as disclosed in a recent press release.

S.BLOX will integrate with other Sony Group businesses to enhance its crypto trading services, offering a redesigned user interface and a new mobile app to improve user experience.

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However, the launch date for S.BLOX has yet to be confirmed.

Originally known as the DeCurret crypto exchange, the platform underwent several ownership changes. It was first acquired by the Japanese subsidiary of Singapore's Amber Group and then taken over by Sony's subsidiary Quetta Web in August 2023.

Sony's push into crypto aligns with its strategy to expand its footprint in the Web3 ecosystem. Last year, Sony Network Communications, a division of the conglomerate, teamed up with Singapore's blockchain firm, Startale Labs, to create a public blockchain network for Sony.

Sota Watanabe, the founder and CEO of Startale Labs, announced on X that a member of Startale's board would lead Sony's new crypto exchange.

Sony's entry into the crypto market isn't limited to trading platforms. The company has been exploring innovative uses of blockchain technology in gaming. Last year, Sony filed a patent for technology that allows players to share non-fungible tokens (NFTs) across multiple platforms.

As such, Sony pushes into crypto and Web3, with the upcoming launch of S.BLOX marking another milestone in their digital transformation journey.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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