Under the umbrella of Sony Group, Amber Japan has undergone a transformation and is now known as S.BLOX, effective from July 1. This Tokyo-based enterprise is at the forefront of operating WhaleFin, a cryptocurrency trading platform, and is set to join forces with various Sony Group entities to broaden its crypto trading ventures.
In line with a WhaleFin announcement, this rebranding is a sequel to its acquisition by Quetta Web, a fully-fledged subsidiary of Sony Group Corporation, in August 2023. Attempts to reach Sony Group and Amber Group by Cointelegraph were met with silence prior to this news release.
In related news, Sony Bank in Japan is piloting a yen-denominated stablecoin for transactions in gaming and sports intellectual property.
**Revamping Services**
In tandem with its new identity, S.BLOX has unveiled ambitious plans to revitalize its WhaleFin service. This includes a comprehensive redesign of the user interface and the introduction of novel applications. The company emphasizes that these enhancements are aimed at augmenting user experience and broadening the service’s capabilities, as part of Sony’s strategic move into the cryptocurrency sector to stay competitive.
**A Glimpse into S.BLOX’s Journey**
Founded on January 10, 2018, S.BLOX is a testament to Sony Group’s full investment, being an exclusive property of Quetta Web. The latest financial figures reveal a capital of 1,708,179,531 yen (approximately $10.5 million). S.BLOX holds the registration number 00015 under the Kanto Local Finance Bureau Director and is a proud member of the Japan Virtual Currency Exchange Associate (JVCEA), which governs the regulatory compliance of cryptocurrency trading within Japan.
**Sony’s Foray into Web3**
Sony has recently addressed over 700 AI developers, including major players like OpenAI, Microsoft, Google, Spotify, and Apple Music, with a cautionary note dated May 16. The communication explicitly forbids the use of Sony’s musical content for AI development, training, or commercial purposes without authorization, highlighting the potential deprivation of rightful compensation for the company and its artists.
In other developments, VanEck has submitted a proposal for a Solana ETF, and there’s been a noticeable increase in Ether supply, among other updates in the Hodler’s Digest for June 23-29.