Sony expands into crypto with the acquisition of Amber Japan

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Sony expands into crypto with the acquisition of Amber Japan

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Sony Group, a leading conglomerate in Japan, is set to launch a crypto exchange following its acquisition of Amber Japan.

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Oluwapelumi Adejumo

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07

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2024

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https://cryptoslate.com/sony-expands-into-crypto-with-the-acquisition-of-amber-japan/

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Sony expands into Web3 with new cryptocurrency platform

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To mitigate financial issues, Amber Japan raised $300 million in a Series C funding round in December 2022, with investments from Fenbushi Capital, Temasek, and Sequoia China. This funding aimed to protect customers affected by the FTX collapse.

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Sony Group is accelerating its Web3 strategy by acquiring WhaleFin's parent company, Amber Group, and rebranding the crypto exchange to S.BLOX Co., with plans to enhance the platform's service offerings and user interface, as well as to launch a new app.

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