Sony Group Acquires Amber Japan: Enters Crypto Market

Sony Group Enters Crypto Market by Acquiring Amber Japan

Japanese technology powerhouse Sony Group has made a significant move into the cryptocurrency market by acquiring Amber Japan, a crypto exchange, as reported by various media outlets including Wu Blockchain and the Block. This strategic acquisition further solidifies Sony’s presence in the digital asset space.

The specific details of the deal remain undisclosed, indicating a level of confidentiality surrounding the acquisition. Sony, known for its popular PlayStation gaming consoles, has previously shown interest in Web 3 technologies through investments and partnerships. However, the purchase of Amber Japan marks Sony’s official entry into the realm of cryptocurrencies.

Notably, Sony had previously collaborated with the Astar Network for a Web3 incubation program and even filed a patent related to the transfer of non-fungible tokens (NFTs) across various gaming platforms and consoles, showcasing its commitment to exploring innovative blockchain applications.

Amber Japan, previously operating under the name DeCurret, was acquired by crypto finance company Amber Group in 2022 and subsequently rebranded. The acquisition of DeCurret by Amber Group’s local division, WhaleFin Holdings Japan, paved the way for Sony’s recent purchase of Amber Japan.

Both Sony and Amber have refrained from immediate comments regarding the acquisition, leaving room for speculation on their future strategies and synergies in the evolving crypto landscape. In a previous report by Bloomberg, it was mentioned that Amber Group, headquartered in Hong Kong, had intentions to divest its Japan-based operations due to the stringent regulatory environment in the country.