Sony Crypto Exchange To Launch In Japan After Platform Acquisition Last Year

Multinational
conglomerate
Sony
Group
is
preparing
to
launch
its
own
crypto
exchange
in
Japan
after
it
acquired
Amber
Group’s
local
subsidiary
Amber
Japan
in
August
last
year.

Sony
will
revamp
a
local
trading
platform,
WhaleFin,
which
has
been
renamed
to
S.BLOX
Co,
according
to
a
July
1
press
release
on


PR
Times.
The
new
exchange
will
also
collaborate
with
Sony
Group’s
other
businesses
to
generate
additional
value
for
its
crypto
trading
services,
the
statement
added.

Sony
Crypto
Exchange
Not
Its
First
Move
Into
Crypto
Space

Multiple
upgrades
will
be
introduced
to
the
platform
after
Sony
purchased
Amber
Japan
last
year
via
its
subsidiary
Quetta
Web.
Changes
will
be
made
to
the
exchange’s
user
interface,
while
the
platform’s
mobile
app
will
also
undergo
a
drastic
change.
The
exact
date
for
the
exchange’s
launch
has
not
been
disclosed.

This
is
not
Sony’s
first
move
into
the
crypto
arena.
Last
year,
it
also
partnered
with
Japanese
blockchain
firm
Startale
Labs
to
build
Sonay’s
own
public
blockchain. 

Here
is
the
Japanese
article.
If
you
may
know,
the
head
of
web3
who
is
going
to
lead
exchange
at
Sony
is
our
external
director
of
the
company.
We
have
made
a
plan
of
the
chain
layer
1.5
years
ago
and
we
entered
the
execution
phase.https://t.co/vKKaZkQ8oV

—
Sota
|
Astar
+
Startale
(@WatanabeSota)

July
1,
2024

Startale
Labs
founder
and
CEO
Sota
Watanabe
revealed
on
X
that
Startale’s
external
director
will
lead
the
new
exchange
platform.
However,
he
did
not
disclose
any
further
details.

Sony
also
filed
a
patent
last
year
for


NFTs

that
can
be
used
to
increase
the
usage
of
in-game
assets.
It
dubbed
these
new
tokens
as
“super-fungible
tokens.”

Japan
Opens
Up
To
Crypto

Japan
has
emerged
as
a
leading
crypto
market
due
to
its
proactive
approach
to
regulating
digital
assets.
One
of
the
most
notable
crypto
developments
in
Japan
happened
last
year,
when
the
country’s
financial
regulator
proposed
changing
the
tax
code
for
digital
assets. 

With
this
proposed
regulation,
taxes
on
unrealized
crypto
gains
will
not
need
to
be
paid
every
year.
The
Financial
Services
Agency
(FSA)


submitted
the
request

in
a
16-page
document,
and
argued
that
the
reform
would
promote
a
healthy
Web3
ecosystem
in
the
country.

Japan’s
Government
Pension
Fund
also


started
exploring

the
feasibility
of
adding
Bitcoin
(BTC)
to
its
portfolio.
Boasting
$1.4
trillion
in
assets
under
management,
it
is
the
biggest
pension
fund
in
the
world.

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