Circle Partners with Sony Block Solutions Labs to Launch USDC on Soneium

Blockchain USDC

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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September 16, 2024 00:29 EDT

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Stablecoin issuer Circle has partnered with Sony Block Solutions to make USDC a primary transaction token on the Soneium blockchain.

This bridged USDC integration paves the way for Soneium to offer creators and users secure and borderless transactions. As a result, the initiative seeks to foster a global economy based on decentralized technologies, Circle said on Monday.

Sony and Circle’s Bridged USDC Integration Unlocks New Possibilities for Soneium

Bridged USDC is a version of USD Coin (USDC) transferred from its original blockchain, usually Ethereum, to another network. The process involves locking USDC on its native chain and minting an equivalent bridged USDC amount on the new blockchain. While backed by the original deposit, the bridged token functions independently on the new network.

“This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem,” said Jun Watanabe, Chairman at Sony Block Solutions Labs.

“We are excited about the potential this partnership unlocks, not just for technological advancement, but for delivering tangible benefits to Soneium and users worldwide.”

Soneium Mainnet Scheduled for 2025

The partnership comes after Sony Group’s blockchain subsidiary recently launch the “Minato” testnet for Soneium.

Soneium aims to integrate blockchain into Sony’s entertainment services, potentially revolutionizing content creation, distribution and consumption. This could include managing digital rights, fan engagement via NFTs or tokenized content access.

The platform allows developers to build dApps using Sony’s infrastructure, paving the way for decentralized services tied to Sony’s products. The mainnet is planned for 2025, though a specific date is still undetermined. Currently, Soneium remains in its testing phase.