USDC coin is poised to become the native Stablecoin on Sony Soneium Blockchain
Circle is aiming to expand the use of its USDC stablecoin onto the newly launched Ethereum layer-2 blockchain network, Soneium, according to a statement shared on September 16. The plan is to integrate bridged USDC into Soneium’s ecosystem, utilizing Circle’s Bridged USDC Standard. This system allows bridged USDC to function as a proxy for the native USDC held on Ethereum, facilitating seamless value transfers across EVM-compatible blockchains.
Soneium, created by Sony Block Solutions Labs, made its debut in August. It is designed as a versatile, general-purpose blockchain that integrates elements from entertainment, gaming, and finance. The platform is growing rapidly, and its developers believe USDC will play a crucial role in its ecosystem. Jun Watanabe, Chairman of Sony Block Solutions Labs, expressed optimism about the partnership, emphasizing its potential to enhance the interconnectedness of digital finance and entertainment.
Watanabe stated that this collaboration aligns with their vision of creating a more efficient digital ecosystem. Circle’s CEO, Jeremy Allaire, echoed this, seeing the partnership as a significant step toward expanding the adoption of Circle’s stablecoins and blockchain technology. He highlighted how this could empower creators by offering secure, user-friendly Web3 experiences.
Soneium’s growth since its August launch has been impressive, with partnerships already formed with major platforms like Chainlink to improve services. Meanwhile, Circle’s USDC has seen increased adoption, particularly thanks to its presence on other Ethereum layer-2 networks like Base. According to Artemis data, USDC’s monthly transfer volume has surpassed $587 billion in the last 30 days.
Currently, USDC is the second-largest stablecoin, with a circulating supply of around $35 billion. This collaboration is expected to further bolster its adoption as Soneium continues to grow in the blockchain space.
