Circle Partners With Sony to Introduce USDC on Soneium

Circle Partners With Sony to Introduce USDC on Soneium

PENGY September 19, 2024, 1:03 am Facebook Twitter


Circle is partnering with Sony Block Solutions Labs to launch USDC on Soneium, Sony’s Ethereum Layer-2 blockchain. The collaboration includes the launch of Bridged USDC on Soneium, part of the economy of the Sony blockchain ecosystem.

“By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance,” said Jun Watanabe, Chairman of Sony Block Solutions Labs. “This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem. We are excited about the potential this partnership unlocks, not just for technological advancement, but for delivering tangible benefits to Soneium and users worldwide.”

How Will USDC Work on Soneium?

USDC
Source – FinanceFeeds

Bridged USDC will allow for bridging native USDC on top of Ethereum to other Ethereum Virtual Machine (EVM) compatible blockchains. According to a press release from Circle, Soneium will unlock new opportunities for creators and users with Bridged USDC. The collaboration will enable seamless, secure, and borderless transactions while fostering a global economy built on decentralized technologies. Additionally, there is potential for Soneium to bring native USDC to the chain at a later date.

Furthermore, bridged USDC serves as a proxy for native USDC held on Ethereum, according to Circle. It enables developers building on layer 2 blockchains like Soneium to readily power their apps with digital dollar payments.

“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 Chief Executive Officer at Circle. “This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology, and empower creators to flourish through secure, user-friendly Web3 experiences.”

Also Read: Pakistan Set to Join BRICS, Adopt New Currency in 2024?

A timetable for the official launch of Bridged USDC on Soneium has yet to be announced.

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