Gushiken Yona
Sony Group’s subsidiary WhaleFin is rebranding as S.BLOX Co., signaling a renewed focus on its crypto trading services and closer integration with the Sony Group ecosystem.
Contrary to recent reports suggesting a new acquisition, Sony Group had acquired Amber Japan’s WhaleFin nearly a year ago, last August. This acquisition highlighted Sony’s foresight in tapping into the growing cryptocurrency market. Amber Japan, which operated the well-known cryptocurrency trading platform WhaleFin, now embarks on a new journey under the S.BLOX brand.
In a Monday statement, the company detailed the rebranding. “Amber Japan Co., Ltd. (Headquarters: Minato-ku, Tokyo; CEO: Jun Watanabe), which operates the cryptocurrency trading service ‘WhaleFin,’ has changed its name to S.BLOX Co., Ltd. as of July 1, 2024.”
S.BLOX, previously known as “WhaleFin,” a cryptocurrency trading platform, aside from undergoing a major transformation, also announced a complete overhaul of its user interface. The company plans to introduce a new mobile app to enhance the trading experience. Furthermore, S.BLOX aims to expand its offerings by increasing the number of supported cryptocurrencies and adding new features and functionalities.
“Going forward, as a member of the Sony Group, we will work to create new added value in cryptocurrency trading services by collaborating with the group’s diverse businesses,” S.BLOX said.
Amber Japan operates the cryptocurrency trading platform WhaleFin. It was acquired by Quetta Web Co., a wholly owned subsidiary of Sony Group and has been operating cryptocurrency trading services. Amber Japan, originally known as DeCurret, had a storied past.
It was acquired and rebranded by Singapore-based market maker Amber Group in early 2022. Despite facing challenges following the collapse of FTX, Amber Group secured substantial funding in December 2022, led by Fenbushi Capital with participation from notable investors like Temasek, Sequoia China, Pantera, Tiger, and Coinbase. This underscored the industry’s confidence in the platform’s potential, further reinforced by Sony’s subsequent acquisition.
The rebranding and restructuring of S.BLOX coincide with Sony’s broader exploration of blockchain technology. In March 2023, Sony filed a patent for an “NFT Framework for Transferring and Using Digital Assets Between Games Platforms,” demonstrating its interest in leveraging blockchain technology for gaming and digital ownership. The acquisition and rebranding of S.BLOX further solidify Sony’s commitment to the cryptocurrency ecosystem.
The acquisition and subsequent rebranding of Amber Japan’s WhaleFin to S.BLOX sets a precedent for other tech giants exploring similar ventures. By enhancing the WhaleFin platform, now S.BLOX, Sony aims to offer a superior trading experience, attract a broader user base, and drive innovation in the digital asset space.
DeCurret Inc was acquired by Amber Group, a global digital asset company, and subsequently renamed Amber Japan K.K. This acquisition brought WhaleFin, a digital asset trading platform, under Amber Japan’s operations. While Amber Japan itself is a subsidiary of the Amber Group, it has been integrated within the broader Sony ecosystem through its acquisition by Quetta Web Co.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
