Circle brings USDC stablecoin to Sony’s blockchain

Stablecoin issuer Circle has partnered with Sony Block Solution Labs, making bridged USDC as 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 supported stablecoins on Soneium, a public layer-2 network built on Ethereum.

In a Sept. 16 press release, the stablecoin issuer said that 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.

Bridged USDC Standard allows developers to deploy a form of USDC compatible with Ethereum Virtual Machine blockchains. The network “maintains optionality for a seamless upgrade to native issuance in the future,” according to Circle, although no timeline was provided for when native USDC might be supported.

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

Sony introduced Soneium in late August, outlining a three-year roadmap for the blockchain. The initial focus will be on web3 users, with plans to onboard Sony Music, Sony Pictures, and Sony Bank in the second year. By the third year, the platform will open to enterprises and decentralized applications.