Japan-based technology giant Sony Group has made a significant move by acquiring crypto exchange Amber Japan. The deal signifies Sony’s official entry into the cryptocurrency market, expanding its presence in the digital asset industry.
Sony’s venture into the crypto space comes after the company’s previous engagements in Web 3 technologies, including investments and partnerships. The acquisition of Amber Japan marks a strategic step for the PlayStation maker to explore the potentials of blockchain and digital currencies.
While the specifics of the deal remain undisclosed, reports confirm Sony’s acquisition of Amber Japan, formerly known as DeCurret. The crypto finance firm Amber Group took over DeCurret in 2022 and rebranded it as Amber Japan. Sony’s collaboration with the Astar Network for a Web3 incubation program and its patent filing for NFT transfers across games and consoles demonstrate the company’s commitment to innovation in the crypto space.
Amber Japan’s acquisition by Sony highlights the growing interest of traditional tech companies in cryptocurrencies and blockchain technology. This move aligns with Sony’s strategic vision to diversify its business portfolio and explore emerging digital trends.
Both Sony and Amber have not provided official comments on the acquisition deal yet. However, industry observers anticipate that the collaboration between the tech giant and the crypto exchange will lead to new developments in the digital asset ecosystem.
Last year, Bloomberg reported that the Hong Kong-based Amber Group was considering selling its Japan unit due to regulatory challenges in the country. The acquisition by Sony could potentially address regulatory concerns and provide a stable platform for expanding crypto services in Japan.