Sony Ventures into Crypto Realm with Potential Exchange Relaunch
The technology and entertainment conglomerate Sony is gearing up to launch its own crypto exchange.
This development comes as the company revamps WhaleFin, a crypto exchange it acquired last year. Sony is transforming it into a new entity called S.BLOX Co.
Key points:
- Sony’s subsidiary, Quetta Web Co. acquired WhaleFin in August 2023.
- The rebranded exchange, S.BLOX, will feature an improved user interface and a new mobile app.
- Sony plans to integrate S.BLOX with its other business divisions.
This strategic initiative represents a major step for Sony as it expands its presence in the Web3 ecosystem.
S.BLOX, formerly known as WhaleFin, has an interesting history. It was initially operating as DeCurret, a Japanese crypto exchange. Sony’s acquisition of the platform through its subsidiary Quetta Web Co. in August 2023 set the stage for its current transformation.
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Exact date of Sony crypto exchange launch remains unknown
The revamped exchange promises to offer an enhanced user experience with a redesigned interface and a new mobile application focused on ease of use. However, the exact launch date for S.BLOX remains under wraps.
Sony’s approach to S.BLOX goes beyond merely operating an exchange. The company plans to leverage synergies with its other business divisions to create additional value for its crypto trading services.
The tech giant’s interest in Web3 and blockchain technology is not new. Sony Network Communications, another division, has previously partnered with Japanese blockchain firm Startale Labs to develop Sony’s own public blockchain network.
Furthermore, Sony has shown interest in the non-fungible token (NFT) space, particularly in relation to gaming. The company filed a patent last year for what it calls “super-fungible tokens.”