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Leading stablecoin issuer Circle has partnered with Sony Block Solutions Labs to increase the uptake of stablecoins on Soneium, an Ethereum-based layer-2 blockchain. Bridged USDC will become a major token for value exchange on the network as a result of this agreement.
Circle will provide Soneium with access to its Bridged USDC Standard as part of this partnership, allowing developers to use a version of USDC that is interoperable with Ethereum Virtual Machine (EVM) blockchains. Flexibility is provided by bridged USDC, enabling smooth upgrades to native issuing when necessary. Although Circle has not given a timeframe, native USDC functionality may soon be available.
Circle noted in its Sept. 16 press release that this integration aims to position bridged USDC as one of the first assets available for transactions on Soneium. This move reflects both companies’ efforts to enhance blockchain-based value exchange mechanisms.
Jun Watanabe, chairman of Sony Block Solutions Labs, expressed excitement over the collaboration. He stated, “This partnership aligns with our vision of creating a more interconnected and efficient digital ecosystem.” The deal reinforces Sony’s strategy to innovate within the blockchain space.
The news follows Samsung Next, the company’s venture capital division, strategically investing in Startale Labs, indicating the growing interest of IT heavyweights in blockchain innovation.
Sony Music, Sony Pictures, and Sony Bank are among the next big targets on Soneium’s ambitious roadmap, which was unveiled in August and begins with web3 users. In order to strengthen its position in the blockchain ecosystem, Soneium plans to assist businesses and decentralized apps (dApps) by the third year.