Sony to Restart Japanese Crypto Exchange Whalefin Purchased From Amber Group in 2023

The technology giant has dabbled in Web3 through partnerships and investments in startups.

Technology giant Sony is set to restart the crypto exchange Whalefin, which it acquired from crypto lender Amber Group earlier this year. The news was first reported by Wu Blockchain and later confirmed by the Block.

According to a notice posted by Whalefin on Monday, its parent company Amber Japan was rebranded to S.BLOX. The notice also stated that the company was acquired by Quetta Web, a unit of Sony, in August 2023. The financial terms of the deal were not disclosed.

Previously known as DeCurret, Amber Japan was acquired by crypto finance firm Amber Group in 2022.

Sony said in a press release on PR Times that it plans to relaunch the crypto exchange soon with a new app.

The latest deal will mark the PlayStation maker's proper foray into crypto, as Sony has so far largely limited its Web3 involvement to partnerships and investments in startups. The company has previously partnered with the Astar Network for a Web3 incubation program and filed a patent for transferring non-fungible tokens (NFTs) between different games and consoles.

Both Sony and Amber did not immediately respond to CoinDesk's requests for comment.

Last year, Bloomberg reported that Hong Kong-based Amber Group was planning to sell its Japan unit due to the country's strict crypto regulations.

UPDATE (July 1, 2024, 07:20 UTC): This story was updated to include additional details of the acquisition.

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