Sony Group is preparing to launch a Bitcoin and crypto exchange in Japan after acquiring Amber Group's local subsidiary, Amber Japan. The revamped exchange will be called S.BLOX and aim to boost Sony's presence in the Bitcoin and crypto space.
JUST IN: ???????? $103 billion Sony to launch #Bitcoin and crypto exchange. pic.twitter.com/wUAE1l8eq5
— Bitcoin Magazine (@BitcoinMagazine) July 1, 2024
Sony purchased Amber Japan in 2023 through its subsidiary Quetta Web. Amber Japan was originally known as DeCurret before Singapore-based Amber Group took over the Japanese exchange in 2022.
Sony has rebranded its acquired exchange as S.BLOX and plans to upgrade its user interface and mobile app significantly. The exact launch date remains unannounced.
The move reflects Sony's growing push into Bitcoin and crypto. By leveraging the Amber Japan exchange, Sony can capitalize on its brand recognition and global reach to boost the adoption of its future Bitcoin and crypto offerings.
Japan has emerged as a leading Bitcoin market due to proactive regulation and high consumer awareness. This makes it an ideal place for Sony to debut and expand services.
Major corporations like Sony embracing Bitcoin and crypto signal wider mainstream momentum. Sony's past acquisitions of companies like CBS Records and Columbia Pictures transformed it from an electronics firm into a global media titan. Its latest acquisition could spark a similar evolution for Bitcoin.
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