Stablecoin Issuer Circle Partners with Sony Block Solutions Labs to Integrate USDC on Soneium

Circle, a stablecoin issuer, announced a strategic partnership with Sony Block Solutions Labs, a blockchain technology company, on Sunday. The partnership aims to drive innovation and creativity through decentralized technology on Soneium, an Ethereum Layer-2 network. Soneium will also integrate the Cross-Chain USDC Standard.

The Cross-Chain USDC Standard defines regulations and procedures for deploying USDC bridges on Ethereum Virtual Machine (EVM) compatible blockchains. Bridged USDC serves as a proxy for native USDC on Ethereum, enabling developers on Layer-2 networks to easily integrate digital dollar payments into their applications.

Circle stated that by integrating bridged USDC as the foundation for value exchange on the network, Soneium is poised to unlock new opportunities for creators and users, enabling seamless, secure, and borderless transactions while fostering a global economy built on decentralized technology.

Sony Network Communications, a subsidiary of the Japanese Sony Group, announced a collaboration with Startale Labs, the developer of the Japanese public chain Astar Network, last year to build Sony's own blockchain. In August, the joint venture, Sony Block Solutions Labs, launched Soneium, a Layer-2 network that utilizes Optimistic rollup technology, allowing users to conduct transactions on Ethereum at a lower cost. Soneium is currently in its testnet phase.

Jun Watanabe, Chairman of Sony Block Solutions Labs, stated that by integrating Circle's financial infrastructure into Soneium, "we will redefine the landscape of digital entertainment and finance."