Circle Partners with Sony for USDC Integration on New Layer 2 Blockchain

Circle, the issuer of USDC, has announced a strategic partnership with Sony Block Solutions Labs to integrate bridged USDC into Sony's new Ethereum Layer 2 platform, Soneium.

This collaboration is set to enhance flexibility and expand functionality on the Soneium blockchain, creating new opportunities for users and creators by facilitating secure and seamless transactions.

Circle’s September 16 announcement highlights the significance of this partnership in advancing digital finance and entertainment. Sony’s Chairman, Jun Watanabe, emphasized that integrating Circle’s stablecoin infrastructure will revolutionize both sectors, aligning with their goal of a more interconnected digital ecosystem.

Jeremy Allaire, Circle’s Co-founder and CEO, described the collaboration as a major step forward in promoting stablecoin adoption and enhancing Web3 experiences for creators. Bridged USDC will enable Ethereum Virtual Machine (EVM) compatible blockchains to use the stablecoin through a proxy, boosting its appeal on the new Layer 2 network.

This development comes amid growing interest in Layer 2 solutions. Recently, Samsung Next invested in Startale Labs, which is working with Sony on Soneium. Additionally, Soneium’s testnet, Minato, has launched, drawing more attention to the project. Despite this progress, Sony’s stock has seen a slight decline of nearly 2% today.