Circle brings USDC stablecoin to Sony’s blockchain

Stablecoin issuer Circle has partnered with Sony Block Solution Labs, making bridged USDC one of the blockchain’s primary tokens for value exchange.

Circle has formed a strategic partnership with Sony Block Solutions Labs to expand the list of stablecoins supported on Soneium, a public layer-2 network built on Ethereum.

As part of the partnership, Soneium will integrate Circle’s Bridged USDC Standard, positioning bridged (USDC) as one of the first assets available for value exchange, the stablecoin issuer said in a Sept. 16 press release.

The Bridged USDC Standard allows developers to deploy a form of USDC that is compatible with Ethereum Virtual Machine blockchains. According to Circle, the network is “maintaining optionality for seamless upgrades to native issuance in the future,” but no timeline was provided for when native USDC could be supported.

Jun Watanabe, head of Sony Block Solutions Labs, said the partnership aligns with the firm’s vision to create a “more connected and efficient digital ecosystem.” The partnership comes two weeks after Samsung Next, the South Korean tech giant’s venture capital arm, announced its participation in the Soneium Spark program through an investment in Singapore-based Startale Labs.

Sony unveiled Soneium in late August, outlining a three-year roadmap for the blockchain. The initial focus will be on web3 users, with plans to add Sony Music, Sony Pictures, and Sony Bank in year two. In year three, the platform will be opened up to businesses and decentralized applications.