TL;DR
- Circle and Sony Block Solutions Labs partner to integrate USDC on Soneium, Sony’s Ethereum Layer-2 blockchain, enabling seamless, secure, and borderless transactions.
- The integration will use the Bridged USDC Standard, ensuring flexibility for future upgrades to native issuance.
- This collaboration aims to foster innovation and creativity, empowering developers and creators in the digital entertainment and finance sectors.
Circle and Sony Block Solutions Labs have announced a strategic partnership to integrate USD Coin (USDC) on Soneium, Sony’s Ethereum Layer-2 blockchain. This collaboration aims to revolutionize the digital economy by enabling seamless, secure, and borderless transactions.
We’re excited to announce our collaboration with Sony Block Solutions Labs to bring bridged USDC on Soneium via our Bridged USDC Standard! This marks a significant milestone to set the stage for a new era of creativity in the Web3 space.
Read more about the collaboration here:… pic.twitter.com/0IRxrXhf5P
— Circle (@circle) September 16, 2024
Circle, the issuer of the popular stablecoin USDC, has teamed up with Sony Block Solutions Labs to bring USDC to Soneium. This integration will make USDC the primary token for value exchange on the Soneium blockchain.
The partnership fosters innovation and creativity, empowering developers and creators to leverage decentralized technologies for a more interconnected and efficient digital ecosystem.
Bridged USDC Standard on Soneium
The integration will utilize the Bridged USDC Standard, a specification for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM)-compatible blockchains. Bridged USDC is a proxy for native USDC held on Ethereum, enabling developers to power their applications with digital dollar payments.
This approach ensures that Soneium maintains the flexibility for a seamless upgrade to native issuance. By integrating USDC, Soneium aims to unlock new opportunities for creators and users.
The blockchain will support diverse needs across various verticals, simplifying blockchain experiences while empowering developers, creators, and communities. The collaboration is expected to redefine the landscape of digital entertainment and finance, delivering tangible benefits to users worldwide.
Statements from Leaders
Jun Watanabe, Chairman of Sony Block Solutions Labs, expressed his excitement about the partnership, stating:
“By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance. This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem.”
Jeremy Allaire, Co-Founder and CEO of Circle, added:
“We are thrilled to be partnering with Sony Block Solutions Labs to re-imagine how creativity and innovation are supported in the digital age. This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology.”
The integration of USDC on Soneium represents a significant step towards a more decentralized and efficient digital economy. By leveraging the strengths of both Circle and Sony Block Solutions Labs, this partnership is poised to drive innovation and creativity, empowering users and creators in the digital age.
