Sony, one of the largest and most influential companies in Japan, has made a significant move into the cryptocurrency exchange market with its acquisition of Amber Japan. This purchase marks Sony’s official entry into the crypto exchange space and expands its already diverse business portfolio, which includes games, music, cameras, and more. Sony’s market value exceeds $100 billion.
Amber Japan, previously known as DeCurret, is a regulated cryptocurrency trading platform in Japan. It was acquired by Singapore-based market maker Amber Group in early 2022 and rebranded as Amber Japan. Despite facing financial troubles after the collapse of FTX, Amber Group received investments from notable companies such as Temasek, Sequoia China, Pantera, Tiger, and Coinbase. These investments highlight the platform’s potential and the strategic value of Sony’s acquisition.
Sony’s entry into the cryptocurrency exchange market is viewed as a strategic move to diversify its business activities and capitalize on the growing cryptocurrency market. With its abundant resources and technological expertise, Sony is well-positioned to innovate and expand its presence in the digital asset space.
Please note that this article does not provide investment advice. To invest in over 300 cryptocurrencies, you can register with Binance exchange and receive a 20% commission discount through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
