In a press release issued through Sony owned S.BLOX, Sony Group will start trading crypto on Whalefin, which is a cryptocurrency exchange that Sony owns through some of its partners.

The Whalefin exchange is operated by S.BLOX, a company previously known by the name Amber Group. The exchange is set to be revamped, and Sony will begin trading there soon. The company was acquired back in 2023 and has been undergoing a restructuring and redesign process. The end result is supposed to be something that is easier for consumers to use and that will support more cryptocurrencies than before.

The path to crypto trading for Sony is being led by Startale Labs, a forward-thinking Web3 infrastructure developer. The CEO of Startale, Sota Watanabe, says that the plans for new chain layers for the crypto exchange were laid down a year and a half ago and are now ready to be put into action.

Sony announced back in September of last year that it would be working with Startale Labs to use a new blockchain to power its Web3 plans. Sony would benefit from the partnership with Startale in a number of ways, with new innovations to come for its music and entertainment divisions. The company had planned to integrate Web3 technology and blockchain software into its financial services as well as its imaging products.

What Does Sony’s Crypto Trading Mean for the Industry?

Sony could be offering crypto traders a fully integrated crypto trading platform. This means that the platform could use Sony tech and work on a variety of Sony devices, but some of those innovations could still be a long way off.

The plans that Sony has for crypto are certainly lofty and will use the latest in internet technology, but they could also include some easy access methods for those who have been hesitant to try out crypto.

PayPal already offers a painless way to buy, sell, and trade crypto, which has really taken off since the program launched and offered crypto services to its 377 million users.  Sony could be set to do something similar by offering crypto services to people who already use Sony products.