Sony subsidiary to launch crypto exchange in Japan

Last year, Sony began developing its own blockchain jointly with Startale Labs

01.07.2024 - 11:10

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What’s new? A subsidiary of the Japanese conglomerate Sony Group will launch a cryptocurrency exchange based on the WhaleFin platform purchased from Amber Group in August 2023. The platform, renamed S.BLOX Co, will collaborate with other businesses within the Sony Group to create additional value in cryptocurrency trading services.

Press release

What else is known? The upgrade to the Sony-bought platform also includes a redesign of the user interface and the launch of a new mobile app that will be easier to use, according to the press release. An exact launch date for S.BLOX has not yet been announced.

Originally named DeCurret, the Japanese crypto exchange was bought by local units of Singapore’s Amber Group in 2022, and the following year it was bought by Sony’s wholly-owned Quetta Web Co.

Back in September last year, Sony’s Network Communications business unit entered into an agreement with local blockchain company Startale Labs, led by Astar Network CEO Sota Watanabe, to build its own public blockchain. Astar is developing the city of Fukuoka as Japan’s blockchain hub starting in 2022

Watanabe, without giving details, said the exchange will be led by an outside director of Startale Labs.

Source: X.com

Earlier this month, fintech company Ripple announced a fund in XRP tokens equivalent to $1 billion to accelerate the development of its own XRP Ledger blockchain in Japan and Korea.

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