Sony Bank Spins Off Web3 Subsidiary to Deepen Digital Asset Services

Sony Bank has launched BlockBloom Inc., a dedicated Web3 subsidiary aimed at expanding its cryptocurrency and digital asset services portfolio. The wholly owned subsidiary will focus on developing comprehensive blockchain infrastructure, NFT platforms, and digital asset solutions, marking Sony's aggressive push into the decentralized finance (DeFi) ecosystem.

This strategic move, announced Thursday following July's initial disclosure, positions Sony Bank among traditional financial institutions embracing cryptocurrency innovation. BlockBloom will leverage blockchain technology to create next-generation financial products, potentially impacting the broader crypto market as institutional adoption accelerates.

The subsidiary's formation reflects growing institutional confidence in digital assets, with major banks increasingly integrating Bitcoin, Ethereum, and other cryptocurrencies into their service offerings. Sony's entry into Web3 services could drive further mainstream cryptocurrency adoption and influence market sentiment positively.

BlockBloom's development of NFT marketplaces and blockchain infrastructure demonstrates Sony's commitment to capturing emerging opportunities in the digital asset space. This institutional backing may strengthen investor confidence in cryptocurrency markets, as traditional financial giants continue validating the long-term viability of blockchain technology and decentralized financial services.