Under the umbrella of Sony Group, Amber Japan has undergone a transformation and is now known as S.BLOX, effective from the first of July. Situated in Tokyo, this enterprise is renowned for its stewardship of the cryptocurrency trading platform WhaleFin. It is poised to forge partnerships across various Sony Group ventures to broaden its horizons in cryptocurrency trading.
An announcement from WhaleFin disclosed that this rebranding is a sequel to its acquisition by Quetta Web, a fully-fledged subsidiary of Sony Group Corporation, in the previous year, 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-pegged stablecoin designed for transactions in gaming and sports intellectual property.
**Revamping Services**
In tandem with its rebranding, S.BLOX is set to revamp its WhaleFin service substantially. This includes a complete makeover of the user interface and the introduction of novel applications. The company emphasizes that these enhancements are aimed at elevating the user experience and accommodating the broadening scope of its offerings.
This service revamp is a strategic move by Sony to stay at the forefront of the competitive cryptocurrency market.
**A Glimpse into S.BLOX**
Founded on January 10, 2018, S.BLOX is a direct reflection of Sony Group’s total investment in the cryptocurrency exchange sector, being entirely owned by Quetta Web. The latest financial records indicate that S.BLOX holds a capital of 1,708,179,531 yen, which is approximately $10.5 million.
S.BLOX operates with the authorization of the Kanto Local Finance Bureau (Director No. 00015) and is a proud member of the Japan Virtual Currency Exchange Association (JVCEA), which supervises the regulatory compliance of cryptocurrency trading within Japan.
**Sony’s Foray into Web3**
Sony has recently reached out to over 700 AI developers with a cautionary message dated May 16, including major players like OpenAI, Microsoft, Google, Spotify, and Apple Music. The communication served as a stern warning against the exploitation of Sony’s copyrighted content, expressly forbidding its use in AI development, training, or commercial endeavors.
The letter from Sony specifically highlighted the unauthorized employment of its content in AI applications, which could potentially deprive the company and its artists of rightful earnings.
**Industry Update**
In other developments, VanEck has submitted a proposal for a Solana ETF, there’s been an uptick in Ether supply, and more insights can be found in the Hodler’s Digest for the week of June 23-29.