Circle and Sony Block Solutions Labs to Enable USDC on Soneium to Empower a Creator Economy
September 15 2024 - 10:00PM
Business Wire
Circle, a global financial technology firm, today announced a
strategic collaboration with Sony Block Solutions Labs to drive
innovation and creativity through decentralized technologies on
Soneium, a public Ethereum layer 2 blockchain ecosystem. Through
this initiative, Soneium will integrate Bridged USDC Standard and
establish bridged USDC as one of the blockchain’s primary tokens
for value exchange.
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Soneium stands out as a versatile, general-purpose blockchain
ready to serve diverse needs across all verticals and support users
globally. By integrating bridged USDC as the foundation for value
exchange, Soneium is poised to unlock new opportunities for
creators and users, enabling seamless, secure and borderless
transactions, while fostering a global economy built on
decentralized technologies.
Bridged USDC Standard is a specification and process for
deploying a bridged form of USDC on Ethereum Virtual Machine
(EVM)-compatible blockchains. Bridged USDC serves as a proxy for
native USDC held on Ethereum, enabling developers building on layer
2 blockchains like Soneium to readily power their apps with digital
dollar payments. By following Circle's standard implementation
process for bridged USDC, Soneium maintains optionality for a
seamless upgrade to native issuance in the future.
“By integrating Circle’s financial infrastructure with Soneium,
we are set to redefine the landscape of digital entertainment and
finance,” said Jun Watanabe, Chairman of Sony Block Solutions
Labs. “This collaboration aligns ideally with our vision of
creating a more interconnected and efficient digital ecosystem. We
are excited about the potential this partnership unlocks, not just
for technological advancement, but for delivering tangible benefits
to Soneium and users worldwide.”
“We are thrilled to be partnering with Sony Block Solutions Labs
to re-imagine how creativity and innovation are supported in the
digital age,” said Jeremy Allaire, Co-Founder and Chief
Executive Officer at Circle. “This collaboration marks a
significant milestone for Circle’s mission to accelerate the
adoption of our stablecoins and blockchain technology, and empower
creators to flourish through secure, user-friendly Web3
experiences.”
About Soneium
Soneium, an Ethereum layer-2 developed by Sony Block Solutions
Labs. This versatile chain is a general-purpose blockchain platform
that aims to evoke emotion, empower creativity, and meet diverse
needs to go mainstream. Soneium will be simplifying blockchain
experiences while empowering developers, creators, and communities.
Built on accessibility, scalability, and efficiency, it aims to
improve quality of life across industries globally. Soneium
challenges to change the way people interact with the internet,
opening innovative applications and vast potential for users
worldwide.
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About Sony Block Solutions Labs
A Sony Group company established to build a new network
infrastructure using blockchain technology, the company announced
the planning and development of blockchain in September 2023, and
in August 2024, the company name was changed from Sony Network
Communications Labs Pte. Ltd.
About Circle
Circle is a global financial technology firm that enables
businesses of all sizes to harness the power of digital currencies
and public blockchains for payments, commerce and financial
applications worldwide. Circle, through its regulated subsidiaries,
is the issuer of USDC and EURC - highly liquid, interoperable, and
trusted money protocols on the internet. Circle’s open and
programmable platform and APIs make it easy for organizations to
run their internet-scale business, whether it is making
international payments, building globally-accessible Web3 apps or
managing their internal treasury. Learn more at
https://circle.com.
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Media: Press@Circle.com