Key facts:
The USDC Bridge token is compatible with the Ethereum Virtual Machine and is a proxy for native USDC.
According to the companies, the association aims to promote “fast, secure and borderless” transactions.
Tech giant Sony and USD Coin (USDC) issuing company Circle have partnered to integrate the stablecoin into the recently launched Soneium blockchain. As planned, USDC will become one of the main tokens on the network as a result of this collaboration.
According to what informedCircle and Sony Block Solutions Labs have agreed to launch the USDC Standard Bridge protocol. This allows the Bridge USDC tokena proxy for native USDC on Ethereum, is integrated into Soneium.
“Through this initiative, Soneium will integrate the Bridged USDC Standard and establish Bridged USDC as one of the leading blockchain tokens for value exchange,” the companies said in a statement.
Bridged USDC Standard is a specification that allows for the implementation of USDC on blockchains compatible with the Ethereum Virtual Machine (EVM). This means that developers can can use USDC to facilitate payments in cryptocurrency backed by digital dollars within applications built on Soneium, while maintaining the option for a future transition to native USDC issuance.
According to the companies, with the integration with USDC, “Soneium is poised to unlock new opportunities for creators and users, enabling seamless, secure and borderless transactions while fostering a global economy based on decentralized technologies.”
Soneium is an Ethereum layer 2 solution, designed to be a versatile and general-purpose platform. Launched last August, as reported by CriptoNoticias, this blockchain seeks to facilitate the widespread adoption of Web3.
With the arrival of Bridged USDC, companies are looking to promote cross-border transactions without the time and cost constraints associated with traditional payment methods. Furthermore, they believe the currency will facilitate the creation and operation of decentralized applications (dApps) that require a stable currency for their internal economies.
The integration of USDC into Soneium comes shortly after the network announced the launch of a Japanese yen stablecoin in collaboration with Sony Bank, marking a significant milestone in the expansion of cryptocurrencies within Sony’s ecosystem.
This article was created using artificial intelligence and edited by a human on the editorial staff.
