Stablecoin

Bridged USDC

Block

USDC

Read

Stablecoin issuer Circle has partnered with Sony Block Solution Labs, making bridged USDC as one of the blockchain’s primary tokens for value exchange.
Circle has formed a strategic partnership with Sony Block Solutions Labs to expand the list of supported <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="noopener noreferrer nofollow">stablecoins</a> on Soneium, a public layer-2 network built on <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>.
In a Sept. 16 <a href="https://www.circle.com/en/pressroom/circle-and-sony-block-solutions-labs-to-enable-usdc-on-soneium" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the stablecoin issuer said that as part of the partnership, Soneium will integrate Circle’s Bridged USDC Standard, positioning bridged (<a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noopener noreferrer nofollow">USDC</a>) as one of the first assets available for value exchange.
Bridged USDC Standard allows developers to deploy a form of USDC compatible with Ethereum Virtual Machine blockchains. The network “maintains optionality for a seamless upgrade to native issuance in the future,” according to Circle, although no timeline was provided for when native USDC might be supported.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/circle-to-discontinue-usdc-support-on-flow-blockchain/"> Circle to discontinue USDC support on Flow blockchain </a>
Jun Watanabe, chairman of Sony Block Solutions Labs, said the collaboration aligns with the firm’s vision of creating a “more interconnected and efficient digital ecosystem.” The partnership comes two weeks after Samsung Next, the venture capital arm of the South Korean tech giant, <a href="https://crypto.news/samsung-joins-forces-with-sony-to-support-soneium-blockchain-incubator/" target="_blank" rel="noopener noreferrer nofollow">announced</a> its participation in the Soneium Spark program through an investment in Singapore-based Startale Labs.
Sony <a href="https://crypto.news/sony-launches-soneium-blockchain-as-it-pushes-for-mainstream-web3-adoption/" target="_blank" rel="noopener noreferrer nofollow">introduced</a> Soneium in late August, outlining a three-year roadmap for the blockchain. The initial focus will be on web3 users, with plans to onboard Sony Music, Sony Pictures, and Sony Bank in the second year. By the third year, the platform will open to enterprises and decentralized applications.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/swiss-branch-of-bbva-bank-brings-usdc-for-institutional-clients/"> Swiss branch of BBVA bank brings USDC for institutional clients </a>

Circle brings USDC stablecoin to Sony’s blockchain

crypto.news

Other articles published on Sep 16, 2024

565 Million $UNITE Tokens To Give In Unite’s Giveaway

Indodax Exchange Loses $20.5M in Suspected Lazarus Group Cyberattack

Bhutan’s government reveals transparent Bitcoin holdings

El Salvador’s President Nayib Bukele Announces Halt to Foreign Debt Using Bitcoin Strategy

Coinpedia Fintech News

Circle and Sony Block Solutions Labs Partner to Boost USDC Adoption on Soneium

Join our free newsletter for daily crypto updates!