Sony Group, renowned for its dominance in gaming, music, and cameras, has ventured into the crypto exchange market with the acquisition of Amber Japan (formerly DeCurret). This strategic move, reported by crypto journalist Wu Blockchain, marks Sony’s entry into regulated digital asset trading services through Amber Japan’s established platform.
Amber Japan itself was rebranded from DeCurret following its acquisition by the global Amber Group in 2022, initially positioning itself as a significant player in Japan’s crypto market. However, challenges arose when part of its trading capital was exposed through the collapse of the FTX exchange. In response, Amber Group pivoted its fundraising strategy and successfully secured a $300 million Series C round in December 2022, led by Fenbushi Capital and supported by investors like Temasek and Coinbase Ventures. This funding aimed to bolster financial resilience and protect customers affected by the FTX fallout.
Sony’s strategic acquisition of Amber Japan aligns with its broader goal of diversifying its extensive portfolio, which exceeds $100 billion in market value. Sony has been proactive in exploring blockchain technology and non-fungible tokens (NFTs) within its gaming and entertainment sectors. In March 2023, Sony filed a patent for an “NFT Framework for Transferring and Using Digital Assets Between Games Platforms,” emphasizing its commitment to integrating NFTs across gaming ecosystems.
By integrating Amber Japan’s expertise in regulated crypto trading, Sony aims to leverage blockchain innovations to enhance user engagement and monetization strategies across its platforms. This move positions Sony at the forefront of digital asset management and distribution, underscoring its agility and foresight in adopting emerging technologies to drive strategic growth and redefine industry standards.
