Sony is gearing up to relaunch the cryptocurrency exchange Whalefin, which it acquired from the crypto lending firm Amber Group last year.

Initially reported by Wu Blockchain, the details of this transaction were later confirmed by the Block. On Monday, Whalefin announced that its parent company, Amber Japan, would be rebranding to S.BLOX. The announcement also disclosed that Sony’s subsidiary, Quetta Web, acquired the company in August 2023. The financial specifics of the acquisition were not revealed.

Amber Japan, previously known as DeCurret, was taken over by Amber Group, a crypto finance firm, in 2022. Sony plans to relaunch the crypto exchange soon, complete with a new app, according to a press release on PR Times. This move represents a significant step for Sony, traditionally known for its PlayStation gaming consoles, into the cryptocurrency sector.

Sony has already been exploring Web3 technologies through various investments and partnerships. The company previously collaborated with Astar Network on a Web3 incubation program and filed a patent related to the transfer of non-fungible tokens (NFTs) between different gaming platforms and consoles. This latest acquisition of Whalefin indicates Sony’s deeper commitment to entering the crypto market.

Both Sony and Amber Group did not immediately respond to requests for comment. Last year, Bloomberg reported that Amber Group, based in Hong Kong, was considering selling its Japan unit due to stringent regulatory requirements in the country.