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Sony is getting in on Bitcoin. And they’re launching their very own exchange to do it.
What’s happening:
- Sony Group (NYSE: SONY) has announced they will launch a Bitcoin and digital asset exchange in Japan
- The new move comes after Sony announced they are acquiring Japanese crypto company Amber Japan
Why it matters:
- Publicly traded companies have been making a flurry of new moves to capture the opportunities in crypto, from companies beginning to acquire Bitcoin with excess cash to asset management giants such as State Street planning to launch new digital asset focused ETFs that go beyond Bitcoin ownership
Going deeper:
- The new exchange will be renamed S.BLOX and will leverage the underlying infrastructure built by Amber Japan
- Sony has publicly stated they plan to redesign the user interface of the exchange as well as launch a purpose built mobile app
The intrigue:
- Japan has been a leader around embracing crypto, with the largest investment bank in Japan Nomura previously launching a fund focused on Bitcoin for institutional capital
