Sony Group acquires Amber Japan, officially steps into crypto exchange arena

Key Takeaways

• Sony Group has officially entered the crypto exchange market by acquiring Amber Japan.
• Amber Japan was involved in a speculated debt-to-equity deal following the FTX collapse.

Sony Group, a Japanese conglomerate known for games, music, and cameras, has officially entered the crypto exchange market with the acquisition of Amber Japan, according to crypto reporter Wu Blockchain. This move comes as part of Sony’s strategy to diversify its portfolio, which already boasts a market value exceeding $100 billion.

Exclusive: Sony Group, one of Japan’s largest companies, has acquired Amber Japan, officially entering the crypto exchange field. Sony’s businesses include games, music, cameras, etc., with a market value of more than $100 billion. Singapore market maker Amber Group acquired… pic.twitter.com/XOHFIUmKtJ

— Wu Blockchain (@WuBlockchain) July 1, 2024

Amber Japan, previously known as DeCurret, was acquired by Singapore market maker Amber Group in early 2022. Following the FTX collapse, Amber Group faced significant challenges, leading to a speculated debt-to-equity deal with Fenbushj.

Investors in Amber Group include notable names like Temasek, Sequoia China, Pantera, Tiger, and Coinbase.

This is a developing story. We’ll give updates on the situation as we learn more.