Stablecoin

Bridged USDC

Boost

Block

USDC

Stablecoin issuer Circle&nbsp;<a style="text-decoration:none" href="https://www.circle.com/en/pressroom/circle-and-sony-block-solutions-labs-to-enable-usdc-on-soneium">announced</a> a collaboration with Sony Block Solutions Labs to integrate USDC as a primary transaction token on the&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/sony-unveils-ethereum-layer-2-blockchain-soneium-to-accelerate-web3-adoption">Soneium</a> blockchain.&nbsp;
The initiative aims to advance the adoption of decentralized technologies and enhance the global digital economy.
<blockquote>
 “We are thrilled to be partnering with Sony Block Solutions Labs to re-imagine how creativity and innovation are supported in the digital age,” said Jeremy Allaire, Co-Founder and CEO of Circle. “This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology.”
</blockquote>
The collaboration opens up possibilities for managing digital rights, enhancing fan engagement through NFTs, and providing tokenized access to content, according to a recent&nbsp;<a style="text-decoration:none" href="https://www.businesswireindia.com/circle-and-sony-block-solutions-labs-to-enable-usdc-on-soneium-to-empower-a-creator-economy-91564.html">press release</a>.
<h2 dir="ltr" id="span-span-usdc-integration-on-soneium-span-span">USDC Integration on Soneium</h2>
The partnership will see Soneium, an Ethereum layer-2 blockchain developed by Sony Block Solutions Labs, integrate bridged USDC as a central token for value exchange.&nbsp;
&nbsp;
Bridged USDC is a version of the USD Coin (USDC) that operates on Ethereum Virtual Machine (EVM)-compatible blockchains. It serves as a proxy for native USDC on Ethereum, enabling seamless digital dollar payments across different blockchain networks.
&nbsp;
The bridged USDC standard would facilitate the deployment of USDC on layer-2 blockchains, making it easier for developers to build applications that utilize digital dollar payments, according to Circle. Per reports, this approach offers the flexibility to upgrade to native USDC issuance in the future, ensuring long-term adaptability.
&nbsp;
This integration is expected to provide creators and users with secure, borderless transactions.&nbsp;
&nbsp;
Jun Watanabe, Chairman of Sony Block Solutions Labs, shared his excitement about the collaboration. He stated:
<blockquote>
 “By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance. This partnership aligns perfectly with our vision of creating a more interconnected and efficient digital ecosystem.”
</blockquote>
The Soneium platform, backed by Sony Group Corporation and Startale Labs, aims to blend blockchain technology with Sony’s extensive entertainment services. With the mainnet launch planned for 2025, Soneium is currently in its testing phase, following the recent launch of the&nbsp;<a style="text-decoration:none" href="https://soneium.org/en/blog/soneium-minato-testnet-is-live-along-with-soneium-spark-incubation-program">“Minato” testnet</a>.

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

Table of Contents

BSCN

Other articles published on Sep 26, 2024

Tom Emmer Criticizes SEC’s Gary Gensler for Hurting U.S. Crypto Growth

Mark Cuban Seeks SEC Chair Role Under Harris, Calls for Reform in Crypto Regulation

Kamala Harris says US should become 'dominant' in blockchain, reiterates 'digital assets' in econ...

Coinpedia Fintech News

Investors ditch SOL, XRP for new altcoin set to eliminate need for crypto exchanges

Can Solana Surpass Ethereum’s Market Value?

Join our free newsletter for daily crypto updates!