Financial technology firm Circle, the issuer of the USDC stablecoin, has partnered with Sony Group’s Singapore-based unit, Sony Blockchain Solutions Lab. This collaboration aims to broaden the adoption of USDC, the second-largest stablecoin in the cryptocurrency market.
Integration of Bridged USDC Standard
In a September 15 announcement, Circle revealed that the Bridged USDC Standard will be integrated with Sony’s newly created blockchain protocol, Soneium. This integration will establish USDC as the primary digital asset for transactions and value transfers on the platform. Launched in August 2024, Soneium is a Layer-2 blockchain designed to scale the Ethereum network. The protocol aims to enhance the adoption of the crypto ecosystem by attracting application developers from sectors such as entertainment, gaming, and finance.
Connecting Blockchains
Circle explained that Bridged USDC offers flexibility for blockchains integrating it into their infrastructure. According to the company, blockchains using Bridged USDC can smoothly transition to local USDC issuances in the future, promoting a more robust financial ecosystem. Jun Watanabe, head of Sony Blockchain Solutions Lab, expressed that integrating Circle’s stablecoin infrastructure aligns with their vision of creating a more connected ecosystem. He stated, “By integrating Circle’s financial infrastructure with Soneium, we are ready to reshape the environment for digital entertainment and finance.”
New Horizons
Circle CEO Jeremy Allaire noted that this agreement is a significant step to promote the adoption of the USDC stablecoin across various blockchains. “This collaboration is a pivotal moment in our mission to accelerate the adoption of our stablecoins and blockchain technology,” he said. Circle plans to open a new international office in New York to increase the global usage of the USDC stablecoin. Scheduled for early 2025, the office will be located on the 87th floor of One World Trade Center in Manhattan. In July, the company announced it had added 137 new members to its workforce, bringing the total to approximately 882 worldwide. The partnership between Circle and Sony Blockchain Solutions Lab aims to accelerate the adoption of stablecoin technology and blockchain infrastructure across various sectors, offering developers the opportunity to integrate digital dollar payments into their applications while contributing to a more connected and efficient digital ecosystem globally.
The collaboration between Circle and Sony opens up new opportunities for integrating stablecoins and blockchain technology across various sectors, providing developers with the tools to create innovative solutions in the digital ecosystem.
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