Circle teams up with Sony Block Solutions Labs to expand USDC adoption on Sony's Layer-2 blockchain, Soneium, bringing stablecoin innovation to the Web3 ecosystem.
In a groundbreaking collaboration, Circle, the fintech firm behind USDC, has partnered with Sony Block Solutions Labs to drive the adoption of its stablecoin on Sony's newly launched Layer-2 blockchain, Soneium. This partnership aims to make USDC the primary currency for Web3 creators, opening new doors for digital commerce, payments, and decentralized applications (dApps). As the demand for stablecoins grows, this partnership marks a significant milestone in the evolution of digital payments and blockchain technology.
Key Points:
Circle and Sony Block Solutions Labs Collaboration: Circle’s partnership with Sony's blockchain division will integrate Bridged USDC Standard into the Soneium Layer-2 blockchain. This will establish USDC as one of the main tokens for value exchange in Web3.
USDC Bridging to Ethereum-Compatible Chains: The Bridged USDC Standard allows developers to deploy a bridged form of USDC on Ethereum Virtual Machine (EVM)-compatible blockchains, enabling access to digital dollar payments across various decentralized applications.
Soneium’s Role in Web3: Sony Block Solutions Labs' Soneium is a public Ethereum Layer-2 blockchain launched in August 2024. With a vision to create an efficient and interconnected digital ecosystem, Soneium supports the Web3 creator economy by streamlining payments, tokenization, and value exchange.
The Impact on Web3 Creators: With Circle and Sony working together, the stablecoin adoption in Web3 will empower creators with secure and easy-to-use tools. By integrating USDC into Soneium, developers and users can benefit from seamless digital payments, reducing friction in online transactions.
Stablecoin Adoption and Market Growth: USDC has seen a 47% growth in supply since the beginning of 2024, highlighting the increasing demand for stablecoins. Circle CEO Jeremy Allaire believes this partnership will accelerate the adoption of blockchain technology in the Web3 space, benefiting the global creator economy.
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The partnership between Circle and Sony Block Solutions Labs signals a new chapter for the Web3 ecosystem. By integrating USDC into Soneium’s blockchain, the collaboration aims to transform how value is exchanged in decentralized applications and digital economies. As stablecoins become more integrated into Web3, creators and businesses can expect more innovative, user-friendly tools to drive blockchain technology adoption worldwide.
Source: Cointelegraph
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