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Sony subsidiary rebrands to S.BLOX, expands crypto trading
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2024-07-01 05:07:51
Josh O"Sullivan15 minutes agoSony subsidiary rebrands to S.BLOX, expands crypto tradingS.BLOX aims to enhance WhaleFin’s user interface and features, reflecting Sony Group"s growing crypto ambitions.108 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAmber Japan, a company operating under the Sony Group, has rebranded and officially changed its name to S.BLOX. as of July 1.
The Tokyo-based company is known for managing the crypto trading service WhaleFin, and it plans to collaborate with various Sony Group businesses on crypto trading expansion efforts
According to an official WhaleFin press release, the rebranding follows its acquisition by Quetta Web, a wholly-owned subsidiary of Sony Group Corporation, in August 2023.
Cointelegraph contacted Sony Group and Amber Group but received no comment before publication.
Related:Japan’s Sony Bank tests yen-backed stablecoin for gaming and sports IP paymentsService renewal
S.BLOX also announced plans to significantly renew its WhaleFin service amid the rebranding, including overhauling its user interface and releasing new applications.
The firm highlighted the updates are geared toward improving the service and making it more user-friendly amid the expansion of its features.
The service overhaul and renewal functions as part of Sony’s expansion into the crypto market to maintain competitiveness in the industry.
Related:Sony warns 700 AI devs, music streaming companies against content misuseS.BLOX’s history and details
S.BLOX, established on Jan. 10, 2018, is wholly owned by Quetta Web, reflecting Sony Group’s 100% investment in the crypto exchange company.
According to the latest financial data, its capital is 1,708,179,531 yen (around $10.5 million).
S.BLOX is registered under the Kanto Local Finance Bureau Director No. 00015 and is a Japan Virtual Currency Exchange Associate (JVCEA) member.
The JVCEA oversees the regulation and compliance of cryptocurrency trading within Japan"s regulatory jurisdiction.Sony Web3 expansion
Sony recently issued warnings to AI developers in a letter dated May 16 addressed to over 700 entities, including the likes of OpenAI, Microsoft, Google, Spotify, and Apple Music.
Warning against the misuse of the firm’s copyrighted material, Sony explicitly prohibited using its music for the development, training or commercialization by the letter’s addressees.
Sony’s letter specifically underlined the unauthorized use of the company’s material in AI applications, depriving the firm and its artists of appropriate compensation.
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