Stablecoin issuer Circle has partnered with Sony Block Solution Labs, making bridged USDC one of the blockchain’s premier tokens for value exchange.
Circle has formed a strategic partnership with Sony Block Solutions Labs to expand the list of stablecoins supported on Soneium, a public Layer 2 network built on Ethereum.
In a September 16 press release, the stablecoin issuer said that as part of the partnership, Soneium will integrate Circle’s Bridged USDC standard, positioning bridged (USDC) as one of the first assets available for value exchange.
The USDC Bridged standard allows developers to deploy a form of USDC that is compatible with Ethereum virtual machine blockchains. The network “retains the ability to seamlessly upgrade to native issuance in the future,” according to Circle, though no timeline was provided for native USDC support.
Jun Watanabe, president of Sony Block Solutions Labs, said the collaboration aligns with the company’s vision of creating a “more interconnected and efficient digital ecosystem.” The partnership comes two weeks after Samsung Next, the South Korean tech giant’s venture capital arm, announced its participation in the Soneium Spark program through an investment in Singapore-based Startale Labs.
Sony unveiled Soneium in late August, laying out a three-year roadmap for the blockchain. The initial focus will be on Web3 users, with plans to onboard Sony Music, Sony Pictures, and Sony Bank in year two. By year three, the platform will open up to enterprises and decentralized applications.
