USDC Becomes Soneium’s Primary Token, Thanks to Circle Deal

• Circle partners with Sony Block Solutions Labs to foster innovation and creativity through Soneium.
• Soneium will integrate the Bridged USDC Standard, introducing Bridged USDC as a primary token.
• The coalition will help unlock the innovative and creative potential of the digital era.

Circle, issuer of the popular stablecoin USDC, inked a partnership with Sony Block Solutions Labs, the developer behind the Ethereum Layer 2 network, Soneium. This collaboration will make Bridged USDC as the primary token for value exchange on the Soneium blockchain.

Soneium: A New Ethereum Layer 2 Solution

In August 2024, Sony Block Solutions Labs launched Soneium , a novel L2 solution on Ethereum, in partnership with Sony Group and the Web3 platform Startale Labs. While the L2 network is to operate on the optimistic rollups technology , reports indicate the initiative is focused on meeting the growing demand for decentralized products.

Read also: Another Major USDC Burn: Circle Destroys Millions of Stablecoins Again

The Bridged USDC Standard is a set of rules that establishes a compatible version of USDC on various Ethereum-based blockchains, in this case, Soneium. Bridged USDCs represent real USDC stablecoins on Ethereum and enable interoperability of digital dollars across multiple blockchains. It streamlines the integration of digital payments into applications creating room for future enhancements.

Sony Block Solutions Labs Chairman Jun Watanabe acknowledged the alliance with Circle as a key step towards redefining the landscape of digital entertainment and finance. He added:

“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.”

In anticipation of accelerating USDC adoption, Circle’s CEO Jeremy Allaire expressed his enthusiasm for partnering with Sony Block Solutions. According to him, the coalition will help unlock the innovative and creative potential of the digital era. He added that the teamwork would further enhance blockchain technology, empowering creators to utilize the secure Web3 ecosystem.