Sony Subsidiary Rebrands as S.BLOX, Gears Up for Crypto Exchange Launch in Japan

Sony Group is making a significant move into the cryptocurrency market with the rebranding of its subsidiary, Amber Japan, to S.BLOX Co., Ltd. The announcement, made on July 1, 2024, marks a pivotal step in Sony’s expansion into the Web3 and crypto space.

S.BLOX, formerly known as Amber Japan, was acquired by Sony’s wholly-owned subsidiary Quetta Web Co. in August 2023. The company operates the crypto trading service WhaleFin, which is now set for a major overhaul as part of Sony’s broader strategy to enhance its presence in the digital asset market.

The rebranding initiative includes plans to significantly improve the WhaleFin platform, with a focus on enhancing the user interface and introducing a new mobile app. These improvements are aimed at making the service more user-friendly and competitive in the rapidly evolving crypto trading landscape.

S.BLOX has announced its intention to collaborate with various Sony Group businesses, leveraging the conglomerate’s diverse portfolio to create new value propositions in the crypto trading sector. This move aligns with Sony’s ongoing efforts to expand its Web3 presence, including partnerships with blockchain firms and exploration of NFT technologies.

While the exact launch date for the revamped S.BLOX crypto exchange has not been disclosed, the company has already begun offering promotions. For instance, new signups to WhaleFin receive 3,000 yen worth of Bitcoin when registering through Nuro Mobile, Sony’s mobile contract reseller.

Sony’s foray into the crypto space extends beyond S.BLOX. The company has been actively involved in blockchain initiatives, including a partnership between Sony Network Communications and Startale Labs to develop Sony’s own public blockchain network. Additionally, Sony has shown interest in NFTs, filing a patent for “super-fungible tokens” for use in gaming environments.