Circle, the issuer of the USCD stablecoin, has tied up with Sony Block Solutions. The collaboration aims to integrate the Bridged USDC Standard into Soneium, a public Ethereum Layer 2 blockchain ecosystem.
This move is part of an effort to foster a creator economy through decentralized technologies. With this integration, Soneium aims to establish bridged USDC as one of its primary tokens for value exchange, facilitating secure and borderless transactions on its platform.
Notably, Soneium is designed as a versatile, general-purpose blockchain to serve various verticals and support users globally. By integrating bridged USDC, the release disclosed that Soneium aims to open new opportunities for creators and users, enhancing the ecosystem's global reach.
The move is expected to support seamless transactions, enabling developers on Soneium to blend digital dollar payments into their applications. Additionally, this integration will maintain the option for a seamless upgrade to native USDC issuance in the future.
Bridged USDC and Its Role in Soneium
The Bridged USDC Standard is a specification for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM)-compatible blockchains like Soneium. Acting as a proxy for native USDC held on Ethereum, bridged USDC enables developers to easily power their Layer 2 blockchain applications with digital dollar payments.
This mechanism, as announced, would not not only assist in simplifying value exchange but would as well ensure that developers have the option to transition to native USDC issuance down the line.
Jun Watanabe, Chairman of Sony Block Solutions Labs, affirmed that this move “aligns with the vision” of creating a more interconnected and efficient digital ecosystem.
He further highlighted the potential this partnership holds for “driving technological advancement” while “delivering tangible benefits” to Soneium and its global user base.
Meanwhile, Circle's Co-Founder and CEO, Jeremy Allaire, also weighed in on the partnership, noting,
“This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology, and empower creators to flourish through secure, user-friendly Web3 experiences.”
In related news, Circle shifted its global headquarters from Ireland to the United States.
