Sony Group Enters $100 Billion Crypto Market with Amber Japan Acquisition

Jul 1, 2024, 06:09 AM

Sony Group, one of Japan's largest companies, has officially entered the cryptocurrency exchange market by acquiring Amber Japan. This strategic move marks Sony's significant expansion into the crypto space, leveraging its established presence in games, music, and cameras. The acquisition involves Amber Japan, a unit of the Singapore-based Amber Group. Sony's market value exceeds $100 billion, highlighting the scale of this entry into the crypto sector. The company is also preparing to launch a new crypto exchange in Japan using the Amber platform. This acquisition is part of Sony's broader strategy, which includes patents for NFTs in video games granted in 2023, among other Web3-related initiatives. The move follows Sony's acquisition of DeCurret Inc., a prominent Japanese firm.