Technological synergy: Sony Block Solutions Labs and Circle, a stablecoin issuer and fintech company, revolutionize payments with Blockchain, with their partnership. Their main goal: to expand USDC to Soneium, Sony’s layer 2 Blockchain.
Indeed, Circle made the announcement on September 15, highlighting that the purpose of this collaboration is to bring Circle’s Bridged USDC standard to Soneium and make USDC one of the core tokens on the Blockchain.
We’re excited to announce our collaboration with Sony Block Solutions Labs to bring bridged USDC on Soneium via our Bridged USDC Standard! This marks a significant milestone to set the stage for a new era of creativity in the Web3 space.
Read more about the collaboration here:… pic.twitter.com/0IRxrXhf5P
— Circle (@circle) September 16, 2024
Commenting on this, Jeremy Allaire, CEO of Circle, said: “We are thrilled to partner with Sony Block Solutions Labs to reimagine how creativity and innovation are supported in the digital age.”
By the way, Soneium is a public Layer 2 Blockchain based on the Ethereum network, launched in August 2024. It was developed by Sony Block Solutions Labs, a joint effort between Sony Group Corporation and Startale Labs. Established to build a new network infrastructure using distributed ledger technology.
Currently, according to CoinMarketCap data, USDC is ranked as the second largest stablecoin in the world, with a market capitalization of over $35 billion. This gives it a market share of 21%.
Strategic alliance: Sony integrates USDC into its Soneium Blockchain
Actually, the Bridged USDC standard allows a bridged form of USDC to be used on blockchains compatible with the Ethereum Virtual Machine (EVM). This makes it easier for developers working on layer 2 blockchains, such as Soneium, to integrate digital dollar payments into their applications.
Additionally, the collaboration opens up possibilities for managing digital rights, enhancing fan engagement through NFTs, and providing tokenized access to content.
Commenting on this, Jun Watanabe, President of Sony Block Solutions Labs, said: “By integrating Circle’s financial infrastructure with Soneium, we are poised to redefine the digital finance and entertainment landscape.”
He added: “This collaboration aligns perfectly with our vision of creating a more interconnected and efficient digital ecosystem.”
Jeremy Allaire said: “This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology, and to empower creators to thrive through secure and easy-to-use Web3 experiences.”
Finally, according to Circle, this marks an important milestone that sets the stage for a new era of creativity in the Web3 space.
I’ll leave you with this quote from Bob Greifeld: “Blockchain is the biggest opportunity set we can think about over the next decade or so.”
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