Sony Group ventures into cryptocurrency trading with acquisition of Amber Japan
Sony’s move into the cryptocurrency trading market illustrates a well-thought-out strategy to integrate itself into a high-growth industry.
Sony Group has ventured into the cryptocurrency trading platform sector by acquiring Amber Japan. That move signifies a strategic expansion for Sony, a conglomerate with a market value surpassing $100 billion and a diverse portfolio that includes gaming, music, and cameras.
Amber Japan was established earlier this year when Singapore-based market maker Amber Group acquired the regulated Japanese cryptocurrency trading platform DeCurret. The rebranding to Amber Japan followed this acquisition, marking Amber Group’s significant footprint in the Japanese market.
In February 2022, Amber Group secured $200 million in a financing round, reaching a valuation of $3 billion. That funding round saw investments from prominent firms such as Temasek, Sequoia China, Pantera Capital, and Tiger Global Management, highlighting strong investor confidence in the company’s growth and potential.
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