According to a PR Times press release on Monday, Japanese multi-industry conglomerate Sony is preparing to launch a cryptocurrency exchange subsidiary by revamping WhaleFin, a local trading platform it acquired last year.
WhaleFin will change its name to S.BLOX Co. and plans to work with other Sony Group companies to add value to its cryptocurrency trading services, the statement said.
The redesign also includes a redesigned user interface and a new mobile app that is easier to use, the release stated. The exact launch date of the S.BLOX crypto exchange has not been announced.
The cryptocurrency trading company was originally Japanese cryptocurrency exchange DeCurret, but was acquired by the Japanese subsidiary of Singapore’s Amber Group in 2022. According to a 2022 press release, Sony’s wholly owned subsidiary Quetta Web Co. acquired the platform in August 2023.
Sony has been working to expand its presence on Web3. The conglomerate’s business unit, Sony Network Communications, last year partnered with Japanese blockchain firm Startale Labs to build Sony’s own public blockchain network.
Startale Labs founder and CEO Sota Watanabe announced on Xiaomi on Monday that a Startale outside director will lead Sony’s new cryptocurrency exchange, but gave no further details.
The PlayStation maker also filed a patent last year for what it calls “super-fungible tokens” for more flexible use of NFTs as in-game assets.
