Circle, a stablecoin issuer, has teamed up with Sony Block Solutions Labs to expand USDC to Soneium, Sony's Layer-2 blockchain.
Circle made the announcement on September 15, highlighting that the goal of this collaboration is to bring Circle's Bridged USDC Standard into Soneium and make USDC one of the blockchain's primary tokens.
"This marks a significant milestone to set the stage for a new era of creativity in the Web3 space," Circle stated.
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The Bridged USDC Standard allows for a bridged form of USDC to be used on Ethereum Virtual Machine (EVM)-compatible blockchains. This makes it easier for developers building on Layer-2 blockchains, like Soneium, to integrate digital dollar payments into their apps.
Jun Watanabe, Chairman of Sony Block Solutions Labs, said:
By integrating Circle's financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance.
Launched in August 2024, Soneium is a Layer-2 blockchain based on the Ethereum network. It was developed by Sony Block Solutions Labs, a joint effort between Sony Group Corporation and Startale Labs.
USDC currently ranks as the second-largest stablecoin in the world, with a market capitalization of over $35 billion. This partnership with Sony aims to further increase its adoption and cement its role in the growing Web3 ecosystem.
In other news, Donald Trump is about to launch a new platform, called World Liberty Financial, to push mass adoption of stablecoins and DeFi.
