Sony and Circle partner to bring USDC to the new Ethereum Layer 2 Blockchain Soneium

TLDR

Circle and Sony Block Solutions Labs announce collaboration on Sonium blockchain Bridged USDC to be integrated as main token on Sonium Sonium new Ethereum layer 2 blockchain The collaboration launched by Sony in August 2024 aims to lead innovation in digital entertainment and finance Circle sees this. It is a big step in the adoption of USDC and the expansion of blockchain technology.

Circle, the company behind the USDC stablecoin, has announced a partnership with Sony Block Solutions Labs to integrate Bridged USDC on Sony, Sony's recently launched Ethereum Layer 2 blockchain.

This collaboration brings together a major technology company and a leading stablecoin issuer, marking a major development in the world of cryptocurrencies and blockchain technology.

In the year Launched in August 2024, Sonium is designed to be a versatile, general-purpose blockchain to serve a variety of needs across a variety of industries. The integration of Bridge USDC provides a stable foundation for exchange on the platform, enabling seamless and secure transactions for users and creators.

Bridged USDC on Soneium uses Circle's Bridged USDC standard, which enables the deployment of bridged USDC on Ethereum Virtual Machine (EVM)-compatible blockchains.

This bridge acts as a proxy for the native USDC hosted on the Ethereum mainnet, providing the benefits of USDC while running on the Layer 2 network.

Jun Watanabe, chairman of Sony Block Solutions Lab, expressed his excitement about the collaboration, saying it fits with the company's vision to create a more connected and efficient digital ecosystem. He emphasized the potential of this partnership to redefine the landscape of digital entertainment and finance.

Circle Co-Founder and CEO Jeremy Allaire echoed this sentiment and described the partnership as a major milestone in Circle's mission to accelerate the adoption of Stalecoins and blockchain technology. Allair highlights the potential of empowering creators with secure and user-friendly Web3 experiences.

The partnership comes at a time of rapid growth for Sonium. In the month since its launch, the network has collaborated with other blockchain projects such as Chainlink to improve its services. This partnership with Circle is expected to further enhance the appeal and functionality of Soneium.

For Circle, this move represents an expansion of USDC's reach and utility. USDC has already seen significant adoption on other platforms, with monthly transactions exceeding $587 billion in the past 30 days, according to data from Artemis.