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<img decoding="async" width="2400" height="1016" src="https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group.webp" class="attachment-full size-full wp-post-image" alt="" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group.webp 2400w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-300x127.webp 300w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-1224x518.webp 1224w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-768x325.webp 768w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-1536x650.webp 1536w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-2048x867.webp 2048w, https://coingape.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group-150x64.webp 150w" sizes="(max-width: 2400px) 100vw, 2400px">
<p>In the latest development, Japanese tech giant Sony has made a silent move into the crypto industry by acquiring crypto exchange Amber Japan. The Sony Group, a $100 billion conglomerate, now expands its business into crypto in addition to music, games, cameras, etc.</p> 
<h3 id="sony-s-foray-into-crypto-industry">Sony’s Foray Into Crypto Industry</h3> 
<p>In his exclusive report, Chinese crypto reported Colin Wu reports that Amber Group stepped into the crypto space when the Singapore-based market maker Amber acquired Japan’s regulated crypto trading platform DeCurret in early 2022. Later, the Singapore-based group rebranded the firm as Amber Japan.</p> 
<p>However, with the collapse of <a href="https://coingape.com/court-greenlights-ftx-bankruptcy-vote-plan-despite-opposition/" target="_blank" rel="noopener">FTX</a> in late 2022, Amberg Group started facing major financial difficulties and had to reportedly undergo a debt-to-equity transaction with Fenbushi Capital.</p> 
<p>Some of the key investors in the Amber Group include notable entities such as Pantera Capital, Temasek, Tiger Global, Sequoia China, and Coinbase. Colin Wu reported that the acquisition of Amber by Sony signifies a strategic expansion into the crypto exchange field while leveraging its strong market position. It will be interesting to see whether Sony manages to turn the tide for the crypto exchange.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">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… <a rel="nofollow" href="https://t.co/XOHFIUmKtJ">pic.twitter.com/XOHFIUmKtJ</a></p> 
 <p>— Wu Blockchain (@WuBlockchain) <a rel="nofollow" href="https://twitter.com/WuBlockchain/status/1807569214359969968?ref_src=twsrc%5Etfw">July 1, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Also Read: <a href="https://coingape.com/just-in-bitflyer-exchange-plans-to-acquire-ftx-japan/" target="_blank" rel="noopener">BitFlyer Exchange Plans To Acquire FTX Japan</a></p> 
<h3 id="japan-s-emerging-crypto-landscape">Japan’s Emerging Crypto Landscape</h3> 
<p>Japan’s crypto landscape has been changing pretty fast recently due to the major devaluation of the Japanese Yen and some monetary policies by the Bank of Japan. Last week, the <a href="https://coingape.com/japanese-yen-collapse-may-see-more-firms-adopt-bitcoin-btc-very-soon/" target="_blank" rel="noopener">Japanese Yen</a> dropped to its lowest levels thereby driving more investors to adopt a Bitcoin strategy.</p> 
<p>Similar to Microstrategy, Japanese firms like Metaplanet have started making Bitcoin a part of their treasury. Through the bond sale, <a href="https://coingape.com/metaplanet-to-buy-7m-bitcoin-using-bond-sales-following-microstrategy/" target="_blank" rel="noopener">Metaplanet</a> has announced its plans to buy $7 million worth of Bitcoins.</p> 
<p>Metaplanet is also bolstering its presence in the cryptocurrency market by establishing a new subsidiary in the <a href="https://coingape.com/metaplanet-creates-offshore-arm-for-enhanced-bitcoin-strategy/" target="_blank" rel="noopener">British Virgin Islands</a>. This move is part of its broader strategy to enhance its Bitcoin investment approach and increase its Bitcoin reserves, aligning with its long-term financial goals.</p> 
<p>Also Read: <a href="https://coingape.com/aptos-collaborates-with-alibaba-to-transform-asias-web3-landscape/" target="_blank" rel="noopener">Aptos Collaborates With Alibaba to Transform Asia’s Web3 Landscape</a></p> 
<p>The post <a href="https://coingape.com/japanese-tech-giant-sony-enters-crypto-exchange-business-with-this-acquisition/">Japanese Tech Giant Sony Enters Crypto Exchange Business With This Acquisition</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Japanese Tech Giant Sony Enters Crypto Exchange Business With This Acquisition

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