Circle Partners with Sony’s Soneium to Expand USDC Adoption
In August, electronics giant Sony launched Soneium, a layer-2 blockchain, and established Sony Block Solutions Labs (Sony BSL) to lead its blockchain ventures. In a recent development, Circle, the issuer of the USDC stablecoin, has partnered with Sony to expand the USDC ecosystem via the Soneium blockchain. This partnership also aims to position USDC as a key token within the Soneium network, further integrating stablecoins into Sony’s blockchain strategy.
For Sony, this partnership is expected to leverage USDC’s strong market reputation to attract users and creators to its suite of customized blockchain services. Meanwhile, Circle will integrate its “Bridged USDC Standard” with Soneium, making the US dollar-backed stablecoin more accessible to a wider range of blockchain users.
In an official announcement posted over the weekend, Circle explained that “Bridged USDC serves as a proxy for native USDC held on Ethereum, allowing developers building on layer 2 blockchains like Soneium to easily power their apps with digital dollar payments.”
Jun Watanabe, president of Sony Block Solutions Labs, stressed that this move aims to deepen the integration of blockchain technology in the entertainment and financial sectors.
“This collaboration fits perfectly with our vision to create a more interconnected and efficient digital ecosystem,” said Watanabe.
Jeremy Allaire, co-founder and CEO of Circle, calls this collaboration a “milestone” for Circle.
“We are excited to partner with Sony Block Solutions Labs to reimagine how creativity and innovation are supported in the digital age,” said Allaire.
We are excited to partner with Sony’s blockchain efforts, making USDC a central part of what we believe can be a significant consumer-grade ecosystem. More to come! https://t.co/IJQbCkJS9C
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) September 16, 2024
Within a month of launch, Soneium reportedly finalized partnerships with multiple Web3 platforms such as Astar, Alchemy, Chainlink, Optimism and The Graph.
The Soneium blockchain is built on the Ethereum blockchain and is designed using the fundamental principles of the ‘open internet’ to encourage the creation of a decentralized landscape for industries such as entertainment, gaming, and finance.
