Japanese electronics giant, Sony, plans to re-launch the crypto exchange, WhaleFin, which it bought from digital asset platform, Amber Group, in 2023.
According to a press release, WhaleFin has been renamed to S.BLOX Co., which plans to collaborate with Sony Group’s other businesses to generate additional value for its crypto trading service.
The revamp also includes a re-design of the user interface and a new mobile app that will be easier to use, the release said.
The exact launch date of S.BLOX crypto exchange has not been announced.
While part of Amber Group, WhaleFin was an ambitious global exchange that, as reported by BitKE in 2022, supported the company’s 24/7 trading desk said to serve over a thousand institutional clients globally. WhaleFin served the individual investors via mobile and desktop applications.
[JUNE 22-AUGUST 24, 2022]’Learn Crypto with WhaleFin Africa’ Educational Series Launches for 10-Weeks
WhaleFin is Amber Group’s flagship digital asset platform, empowering users with the right tools to build wealth in a digital erahttps://t.co/dxd2KqQZRE @ambergroup_io pic.twitter.com/wxSxLbihYZ
— BitKE (@BitcoinKE) June 22, 2022
WhaleFin was introduced to Japan in 2022 after Amber Group, through local subsidiary, Amber Japan, purchased the Japanese crypto exchange, DeCurret.
Last year [2023], Bloomberg reported that the Hong Kong-based Amber Group was planning to sell its Japan unit due to the strict regulations in the nation, which had seen the likes of Coinbase and Kraken also quit. The company wanted to put focus more on institutional than retail customers.
In August 2023, WhaleFin, which had been operating cryptocurrency trading services, was acquired by Sony’s wholly-owned subsidiary, Quetta Web Co., leading up to the announcement on July 1 2024 that the platform was re-branding to S.BLOX.
Sony has been actively working to increase its footprint in Web3. Last year [2023], Sony Network Communications, a division of the conglomerate, collaborated with Japanese blockchain company, Startale Labs, to develop its own public blockchain network.
In February 2024, Sony Innovation Fund: Africa, the venture capital branch of Sony Group Corporation, made a strategic investment in Carry1st, the leading publisher of mobile games in Africa.
🇿🇦FUNDING | Leading African Web3 Gaming Publisher, Carry1st, Announces Strategic Investment from Sony Innovation Fund
The mission of the Sony Innovation Fund: Africa is to foster the growth of entertainment businesses on the continent.
Focused on early-stage and seed-stage… pic.twitter.com/8PFePwXUdk
— BitKE (@BitcoinKE) February 5, 2024
The PlayStation maker also filed a patent last year for more flexible use of NFTs as in-game assets that it dubbed “super-fungible tokens.”
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