Stablecoin giant Circle, the issuer of USDC, recently announced plans to collaborate with Sony Block Solutions Labs, a Singapore-based company that taps into blockchain technology. The collaboration comes as an effort to bring bridged USDC to the Sony company’s newly launched Ethereum Layer 2 Soneium. Intriguingly, this collaboration announcement has promptly gained significant traction across the Web3 industry as it enhances flexibility on the Layer 2 blockchain.
Circle Joins Forces With Sony For Bridged USDC On Soneium
As per an official announcement by Circle dated September 16, the stablecoin giant is strategically collaborating with Sony Block Solutions Labs for driving innovation on Soneium. Aligning with this collaborative endeavor, the layer 2 blockchain is set to amalgamate bridged USDC standard. Subsequently, Soneium remains poised to unlock a plethora of opportunities for creators and users, enabling seamless, secure, and borderless transactions, the announcement added.
Meanwhile, Jun Watanabe, Chairman of Sony Blocks Labs, stated, “By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance.” He further added that the team-up aligns with the firm’s vision of creating a more “interconnected and efficient digital ecosystem.”
Simultaneously, Jeremy Allaire, Co-founder and CEO of the stablecoin giant, added, “This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology.” He further adds that it empowers “creators to flourish through secure, user-friendly Web3 experiences.”
Bridged USDC primarily allows EVM (Ethereum Virtual Machine) compatible blockchains to leverage the native stablecoin with the help of a proxy. Altogether, this development is set to offer increased user appeal on the newly launched layer 2 blockchain. Here are the other best Layer 2 crypto projects that are bullish this year.
Recent Developmental Endeavors Propel Optimism
Meanwhile, recent advancements have garnered further attention to the new layer 2 blockchain. CoinGape Media reported previously that Samsung Next injected funds into Startale Labs, a key Web3 firm that established a joint venture with Sony for Soneium development.
Also, in another developmental wave, the layer 2 blockchain’s testnet Minato went live recently, garnering further attention to the project. Altogether, the Singapore-based firm has marked a monumental stride with the Soneium launch, accompanied by Circle’s support of the project. Nonetheless, Sony stock price was down nearly 2% today at press time.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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