Sony Group, a major Japanese conglomerate with a market cap of $103.66 billion as of July 2024, has announced its entry into the cryptocurrency exchange market.
- This move follows the acquisition of Amber Japan, a subsidiary of the global Amber Group, which has been rebranded as S.BLOX.
- The revamped platform aims to enhance user experience with a redesigned interface and a new mobile application.
- Sony plans to leverage its diverse businesses, including games, music, and cameras, to boost its presence in the cryptocurrency and blockchain sectors.
- The launch of the crypto exchange is part of Sony’s broader strategy to expand its digital services and capitalize on the growing interest in cryptocurrencies.
- New users signing up through Nuro Mobile, Sony’s mobile reseller, will receive ¥3,000 in Bitcoin.
- S.BLOX will integrate with Sony’s other ventures, including Sony Bank, which plans to offer NFT rewards linked to financial products, and the “super-fungible tokens” designed for gaming.
- Sony’s blockchain initiatives also involve collaborations with Astar Network and issuing stablecoin on the Polygon blockchain.
- Launch date for S.BLOX crypto exchange has not been announced.