Another Tech Giant ‘Sony’ shows interest in digital currencies

Another Tech Giant ‘Sony’ shows interest in digital currencies
Written by:
Ali Raza
5th February, 09:51
Updated: 11th March, 09:02
  • According to Sony's recent announcement, the company has decided to invest in a security token platform, Securitize.
  • The company believes that Securitize is doing a great job of creating a new asset class with 'astonishing abilities.'
  • The investment comes after Securitize's recent funding round which resulted in $14 million raised by numerous VC firms.

According to a recent announcement published by Japan’s multinational group, Sony, the company has recently invested in a security token platform, Securitize. Sony made its investment through its venture capital fund, known as SFV・GB L.P., which is co-managed by Global Brain and Sony Financial Ventures.

Meanwhile, Securitize itself is a blockchain-based company that focuses on helping crypto businesses with the creation of regulatory compliant security tokens. Sony’s new investment in the company comes as an extension of a recent funding round, during which Securitize managed to raise more than $14 million.

The funding round attracted some major VC companies, such as Santander InnoVentures, Nomura Holdings, Blockchain Capital, and MUFG Innovation Partners. Now, Sony has joined the list as well, and Securitize CEO, Carlos Domingo, commented on the move by saying that Sony’s investment validates Securitize. However, he also says that Sony’s move added yet another corporation to the list of those willing to invest in digital securities.

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Sony’s interest in new, disruptive technologies persists

The SFV investment into security tokens does not come as a particularly major surprise, especially considering that SFV seems to have a major interest in supporting disruptive technologies. Some of its major investments in the last few years involved the IoT, robotics, and even the AI. Its director, Junji Nakamura, said that Securitize is using the blockchain tech to create a new asset class that has rather astonishing abilities.

He added that SFV is excited to join Securitize in taking on the new challenges, which would hopefully result in the creation of the new value.

Sony has had blockchain technology in mind as well, and for quite some time, it would seem. The company definitely understands its potential and countless use cases, such as digital rights management. Some even believe that blockchain might be used for PlayStation 5, although there were no official reports confirming this.

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