"It's really the best, Sony doesn't wait long and just choose what company they want."
Unwittingly, the $100 billion Sony Group conglomerate that has been quietly making inroads into the cryptocurrency market has acquired Japan's digital asset exchange Amber.
Amber Group reportedly joined crypto when Singapore-based market maker Amber acquired Japanese regulated digital asset trading platform DeCurrent in early 2022 after which the Singapore-based group rebranded the firm as Amber Group.
It should also be noted that Amber Group began to face major financial problems and had to undergo a debt transaction with Fenbushi Capital immediately after FTX faced a collapse at the end of 2022.
Please note that key investors in Amber Group include Pantera Capital, Temasek, Tiger Global, Sequoia China and Coinbase and Sony's acquisition of Amber marks a strategic expansion into the crypto exchange space while leveraging its strong market position.
Recently, the Japanese crypto landscape has changed rapidly due to the major devaluation of the Japanese Yen and some monetary policies by the Bank of Japan (BoJ) plus the Japanese Yen last week fell to record lows thus prompting more investors to adopt the BTC strategy.
Just like MicroStrategy, the Japanese firm Metaplanet not only started making BTC part of its treasury but also announced its plan to buy $7 million worth of BTC through the bond sale.
Metaplanet also strengthened its presence in the crypto market by establishing a new subsidiary in the British Virgin Islands as part of its wider strategy to improve its investment approach and increase BTC reserves.