Japanese giant Sony is preparing to launch a cryptocurrency exchange subsidiary, which will be made possible by the upgrade of local trading platform WhaleFin, which Sony acquired last year. Will we soon see tokenization of PlayStation games and the ability to pay for Sony services in cryptocurrencies?
Sony enters the cryptocurrency market
Sony has been romancing blockchain technology and cryptocurrencies for a long time. Last year, there was a lot of talk about the Japanese giant’s work on its own blockchain. Sony has no intention of slowing down, as Monday’s press release on PR Times unanimously confirms the company’s entry into the digital asset market. The subsidiary will operate a cryptocurrency exchange thanks to the modernization of the local WhaleFin trading platform, which has now been renamed S.BLOX Co.
The modernization will also include a redesign of the user interface and the introduction of a new mobile application, distinguished by its simplicity and intuitiveness. At least that’s what the press release says. The exact launch date of the S.BLOX cryptocurrency exchange has not yet been announced. It is worth adding that the cryptocurrency trading entity was initially the Japanese exchange DeCurret, which was acquired in 2022 by the Japanese branch of the Singaporean Amber Group. In August 2023, the platform was taken over by Sony’s wholly owned subsidiary, Quetta Web Co.
Blockchain games and cryptocurrency payments?
The Japanese giant is making a considerable amount of effort to expand its presence on Web3. An example of this is the previously mentioned cooperation with Startale Labs to build its own blockchain. Blockchain technology is also expected to come to the world of electronic entertainment, as the PlayStation manufacturer filed a patent last year for the more flexible use of NFTs as in-game resources. These tokens have been called “super-fungible tokens”.
The possibilities of cryptocurrencies do not escape Sony’s attention, which is why the company wants to use digital assets as effectively as possible to expand its expansion in many different fields. It is worth remembering that Sony is not only about games or cinematography, but also music and electronic equipment.
