• Terms of the deal weren’t disclosed.
  • Bloomberg reported last year that Amber planned to sell its Japanese division.

Sony plans to restart Whalefin the crypto exchange it purchased from Amber Group, a crypto lender last year.

The Block revealed the details of the deal after Wu Blockchain had reported it.

Whalefin published a notice on Monday that the parent company Amber Japan would be rebranding as S.BLOX. The notice also stated that Quetta Web, an arm of Sony, would be purchasing the company in August 2023. The financial terms were not revealed.

Amber Japan – formerly DeCurret – was acquired by the crypto finance company Amber Group 2022.

In a press release for the PR Times, Sony announced that it plans to restart its crypto exchange with a new application.

The latest deal marks Sony’s first foray into cryptocurrency. While the company has dabbled with Web 3 via investments, and partnerships, this is the first time the PlayStation maker will be able to make a proper entry into crypto. The company had filed a patent to transfer non fungible tokens (NFTs), between different consoles and games.

Sony and Amber did not respond to requests for immediate comment.

Bloomberg reported last year that Amber Group , based in Hong Kong, was planning to sell off its Japan unit because of the strict regulations within the nation.

Update (July 1, 2020, 7:20 AM UTC): Reworks headline with confirmation of deal. Adds more details about the acquisition.

Omkar Godbole, Sheldon Reback and Omkar Godbole edited the book.