Sony Group expands crypto trading with Amber Japan’s rebranding

Key Takeaways

• Amber Japan operates under the Sony Group and manages the crypto trading service WhaleFin.
• Amber Japan was involved in a speculated debt-to-equity deal following the FTX collapse.

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Amber Japan, now known as S.BLOX, has officially rebranded under the Sony Group as of July 1, according to a press release published by PR Times on Monday. The Tokyo-based entity, managing the crypto trading service WhaleFin, aims to enhance its market presence by collaborating with various Sony businesses.

Amber Japan, previously known as DeCurret, was acquired by Sony Group’s subsidiary, Quetta Web, in August 2023. As part of the rebranding, the WhaleFin platform is scheduled for future renewals, including a redesigned UI screen and a new, easier-to-use mobile app. The renewals will also expand the supported currencies and functions.

The latest move comes as part of Sony’s strategy to diversify its portfolio, which already boasts a market value exceeding $100 billion. Sony has been exploring the use of non-fungible tokens (NFTs) and blockchain in gaming for the past few years.

In March 2023, Sony filed a patent for an “NFT Framework for Transferring and Using Digital Assets Between Games Platforms”. This outlines a system for using NFTs cross-platform, including features like NFT-locked gameplay, limited-use in-game tasks, and rewarding players with NFTs.

This is a developing story. We’ll give updates on the situation as we learn more.

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