Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Yamane_Keto on July 01, 2024, 05:33:01 PM
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$105 BILLION ELECTRONICS GIANT SONY TO LAUNCH NEW BITCOIN EXCHANGE
Sony Group is preparing to launch a Bitcoin and crypto exchange in Japan after acquiring Amber Group's local subsidiary, Amber Japan. The revamped exchange will be called S.BLOX and aim to boost Sony's presence in the Bitcoin and crypto space.
Sony purchased Amber Japan in 2023 through its subsidiary Quetta Web. Amber Japan was originally known as DeCurret before Singapore-based Amber Group took over the Japanese exchange in 2022.
Sony has rebranded its acquired exchange as S.BLOX and plans to upgrade its user interface and mobile app significantly. The exact launch date remains unannounced.
The move reflects Sony's growing push into Bitcoin and crypto. By leveraging the Amber Japan exchange, Sony can capitalize on its brand recognition and global reach to boost the adoption of its future Bitcoin and crypto offerings.
The annual establishment of a cryptocurrency exchange company will lead to the emergence of a new generation of crypto exchanges Instead of being launched by unknown people or companies starting from scratch, successful companies acquire small companies.
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I wonder what's their target for this exchange. IIRC Coincheck is the go-to exchange for Japanese crypto users, I wonder if they plan to dethrone them or if is there another target for them. Competition is always good, especially if one of the marketplaces people regularly used was hacked. Personally not a fan of DMM being so dominant in the Japanese market since I can't trust them with their security. Unfortunately, they're the only ones who provide the service for what I need. Converting my crypto to Yen is expensive for me, if they offer instant exchange with little to no KYC it's worth checking them out.
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I think S.Blox will not just be an exchange, but a giant crypto ecosystem according to SONY's interests in recent years such as plans to build its own blockchain, NFTs, DAOs, and exchanges[1].
By the way, the exchange that will be revamped is WhaleFin. Tbh I'm a little confused about their acquisition history. ::)
1. https://news.bitcoin.com/sony-group-to-enter-the-cryptocurrency-trading-business-through-s-bloxs-whalefin/
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I think S.Blox will not just be an exchange, but a giant crypto ecosystem according to SONY's interests in recent years such as plans to build its own blockchain, NFTs, DAOs, and exchanges[1].
By the way, the exchange that will be revamped is WhaleFin. Tbh I'm a little confused about their acquisition history. ::)
Companies have begun to prefer to acquire and buy platforms instead of building one from scratch. This happened with Elon Musk and Twitter, but I do not know whether their experience will be successful or not.
Sony Group has become far from the limelight in the phone, television, camera and electronics industries. If this happens again with blockchain, it will be a severe blow to them.