Circle announced on September 15 that Soneium is incorporating the Bridged USDC Standard into its USD Coin stablecoin as part of its strategic collaboration with Sony Block Solutions Labs (Sony SBL), the Sony subsidiary responsible for the development of Soneium and the oversight of Sony’s web3 initiatives.
The announcement stated that USDC will be one of the “primary tokens” that facilitate value exchange on Soneium.
Jun Watanabe, the chairman of Sony Block Solutions Labs, expressed enthusiasm for the integration of support for Circle’s financial infrastructure. Watanabe stated, “This collaboration is in perfect harmony with our aspiration to establish a digital ecosystem that is more interconnected and efficient.”
Circle stated that “Bridged USDC functions as a proxy for native USDC held on Ethereum, allowing developers who are developing applications on Layer 2 blockchains such as Soneium to integrate digital dollar payments into their applications easily.”
The integration of Soneium’s Bridged USDC also facilitates the deployment of native USDC on the network in the future. According to The Defiant’s crypto price feeds, USDC is the second largest stablecoin, with a market capitalization of $35.65 billion.
Sony’s announcement of Soneium on August 23 was met with considerable enthusiasm. Soneium informed The Defiant that it will concentrate on existing web3 vertices, such as DeFi and NFTs, and explore solutions for integrating the entertainment industry, including music, film, and gaming.
Soneium is collaborating with some prominent web3 companies to establish its ecosystem and infrastructure, such as Chainlink, Alchemy, and The Graph. Soneium announced on September 12 that it will utilize Chainlink’s Cross-Chain Interoperability protocol as cross-chain infrastructure and will implement support for Chainlink’s data feeds on the testnet.
