Circle, a financial services company, and Sony Block Solutions Labs, a Sony Group company, have partnered to launch USDC, a dollar-pegged stablecoin, on Soneium, an Ethereum L2 blockchain. The collaboration includes the launch of Bridged USDC on Soneium to be part of the economy of the emergent ecosystem, becoming a primary token for value exchange.
Circle Partners With Sony to Introduce USDC on Soneium
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Circle Announces Strategic Collaboration With Sony To Bring USDC To Soneium
Circle, a U.S.-based financial services company, has announced a strategic collaboration with Sony Block Solutions Labs, a Sony company, to bring USDC to Soneium, a Sony-backed Ethereum L2 blockchain. With this partnership, the dollar pegged stablecoin will become a key token in Soneium’s economy, enabling several use cases.
USDC will be enabled in the form of Bridged USDC, a standard that allows for bridging native USDC on top of Ethereum to other Ethereum Virtual Machine ( EVM) compatible blockchains. However, the company might also bring native USDC to the chain later.
The inclusion of USDC as part of Soneium might imply a future implementation of the token as part of Sony’s payment ecosystem, as the company has stressed before that it will investigate “how new services that collaborate with businesses within the Sony Group can be developed as Soneium-compatible apps.”
Jun Watanabe, Chairman of Sony Block Solutions Labs, highlighted the relevance of this collaboration for creating an interconnected and efficient digital ecosystem. He stated:
We are excited about the potential this partnership unlocks, not just for technological advancement, but for delivering tangible benefits to Soneium and users worldwide.
Jeremy Allaire, co-founder and CEO of Circle, qualified this partnership as a milestone for the company, stating that it powers Circle’s mission to “accelerate the adoption of our stablecoins and blockchain technology, and empower creators to flourish through secure, user-friendly Web3 experiences.”
Soneium, announced in August, already launched its Minato testnet, allowing users and developers to test and familiarize themselves with the environment around the already-built apps.
What do you think about USDC’s launch on Soneium? Tell us in the comments section below.
