.png)
The massive stablecoin Circle, which issues USDC, has revealed plans to work with Sony Block Solutions Labs, a blockchain-focused business based in Singapore. The partnership is an attempt to provide bridging USDC to the Ethereum Layer 2 Soneium, which the Sony firm recently created. This collaboration news is intriguing; it has quickly garnered a lot of popularity in the Web3 market because it improves Layer 2 blockchain flexibility.
Circle and Sony Join Together For Bridged USDC on Soneium
According to a September 16 official statement from Circle, the industry leader in stablecoins is strategically working with Sony Block Solutions Labs to further Soneium innovation. In keeping with this cooperative project, bridged USDC standard will be combined with layer 2 blockchain. The release also stated that Soneium is still on track to open up a wide range of opportunities for consumers and producers by facilitating safe, easy, and international transactions.
"By integrating Circle's financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance," said Sony Blocks Labs Chairman Jun Watanabe. He went on to say that the collaboration is in line with the company's goal of building a more "interconnected and efficient digital ecosystem."
In addition, "This collaboration marks a significant milestone for Circle's mission to accelerate the adoption of our stablecoins and blockchain technology," said Jeremy Allaire, co-founder and CEO of the massive stablecoin company. It enables "creators to flourish through secure, user-friendly Web3 experiences," he continues.
Blockchains that are compatible with Ethereum Virtual Machines (EVMs) can essentially use bridged USDC to utilize the native stablecoin through the use of a proxy. All things considered, this improvement should make the recently released layer 2 blockchain more appealing to users. These are this year's top Layer 2 crypto initiatives that show promise.
Current Developmental Projects Encourage Optimism
Meanwhile, the new layer 2 blockchain has attracted more interest as a result of recent developments. As previously reported by CoinGape Media, Samsung Next invested in Startale Labs, a significant Web3 company that formed a joint partnership with Sony to build Soneium.
The layer 2 blockchain's testnet, Minato, recently went online in another developmental wave, which attracted more attention to the project. With the debut of Soneium and Circle's backing of the initiative, the Singapore-based company has collectively made significant progress. Nevertheless, as of the time of publication, Sony's stock price was down about 2%.