Circle, a financial services company, and Sony Block Solutions Labs, a Sony Group company, have partnered to launch USDC, a dollar-pegged stablecoin, on Soneium, an Ethereum L2 blockchain. The partnership includes launching Bridged USDC on Soneium to become part of the emerging ecosystem’s economy, becoming a primary token for value exchange.

Circle Announces Strategic Partnership with Sony to Bring USDC to Soneium

Circle, a US-based financial services company, has announced a strategic partnership with Sony Block Solutions Labs, a Sony company, to bring USDC to Soneium, an Ethereum L2 blockchain backed by Sony. With this partnership, the dollar-pegged stablecoin will become a key token in Soneium’s economy, enabling multiple use cases.

USDC will be activated as Bridged USDC, a standard that allows bridging native USDC on Ethereum with other Ethereum Virtual Machine (EVM)-compatible blockchains. However, the company may also bring native USDC to the chain later.

The inclusion of USDC in Soneium could imply that the token will be deployed in the future as part of Sony's payments ecosystem, as the company has previously emphasized that it will be exploring "how new services in partnership with businesses within the Sony Group can be developed into Soneium-compatible applications."

Jun Watanabe, President of Sony Block Solutions Labs, emphasized the importance of this collaboration in creating an efficient and connected digital ecosystem. He stated:

We are excited about the potential this partnership brings, not only in terms of technological advancement but also in bringing tangible benefits to Soneium and its users around the world.

Jeremy Allaire, co-founder and CEO of Circle, called the partnership a major milestone for the company, stating that it advances Circle's mission of "driving the adoption of our blockchain technology and stablecoins, while empowering creators to thrive through a secure and user-friendly Web3 experience."

Soneium, announced in August, has launched its Minato testnet, allowing users and developers to experiment and familiarize themselves with the environment surrounding already-built applications.

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