Circle, Sony Block Solutions Labs to Enable USDC on Soneium

Circle, a global financial technology firm, joins Sony Block Solutions Labs to enable USDC on Soneium. The collaboration aims to implement innovation and creativity through decentralized technologies on Soneium. The alliance will empower creators to flourish through a secure, user-friendly Web3 experience.

The tech firm Circle released an official statement on Monday. It announced that the strategic partnership will allow Soneium to integrate the Bridged USDC Standard. Further, it can be established as one of the blockchain’s primary tokens for value exchange. The Bridged USDC Standard deploys a bridged USDC cryptocurrency on blockchains compatible with EVM. 

Notably, the Bridged USDC will serve as a proxy for the native USDC held on Ethereum. It aids the developers on layer 2 blockchains, especially Soneium. Further, it enhances their apps to accept digital dollar payments quickly. Although Soneium follows Circle’s methods for bridged USDC, it still maintains an option to move back to its native coin, if the need arises in the future. 

Speaking on the occasion, the chairman of Sony Block Solutions Labs, Jun Watanabe said,

By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance.

Watanabe stated that the collaboration aligns with their vision of creating an efficient and more interconnected digital ecosystem. He added that the partnership benefits the technological side and Soneium’s users globally. 

With the integration of Bridged USDC as the primary token for value exchange, Soneium can unlock new opportunities. The collaboration will enable seamless, secure, and borderless transactions for users, fostering an economy built on decentralized technologies.

Jeremy Allaire, the CEO of Circle, stated that partnering with Sony Block Solutions Labs will enhance creativity and innovation in the digital age. He added that the collaboration marks a significant milestone in Circle’s mission and will accelerate the adoption of stablecoins and blockchain technology.