Circle and Sony Block Solutions Labs to Enable USDC on Soneium to Empower a Creator Economy

Singapore, SINGAPORE, 16 September 2024 — 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.

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.”