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.
