Soneium Integrates Support For Bridged USDC

The ecosystem for Soneium, Sony’s upcoming Layer 2 network, is taking shape.

On Sept. 15, Circle announced that Soneium is integrating the Bridged USDC Standard for its USD Coin stablecoin as part of its strategic collaboration with Sony Block Solutions Labs (Sony SBL) — the Sony subsidiary tasked with overseeing Sony’s web3 initiatives and building Soneium.

The announcement noted that USDC will serve as one of the “primary tokens” facilitating value exchange on Soneium.

Jun Watanabe, the chairman of Sony Block Solutions Labs, said Sony SBL is excited to integrate support for Circle’s financial infrastructure. “This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem,” Watanabe said.

“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,” Circle said.

Soneium’s Bridged USDC integration also paves the way for deploying native USDC on the network in the future. USDC is the second largest stablecoin with a market cap of $35.65 billion, according to The Defiant’s crypto price feeds.

Sony announced Soneium on Aug. 23 to great fanfare. Soneium told The Defiant that it will target existing web3 vertices including DeFi and NFTs, and will also seek to develop solutions for bringing the entertainment industry including music, movies, and gaming.

Soneium is working with several leading web3 firms to build out its ecosystem and infrastructure, including The Graph, Alchemy, and Chainlink. On Sept. 12, Soneium announced its integrated support for Chainlink’s data feeds on testnet, and will use Chainlink’s Cross-Chain Interoperability protocol as cross-chain infrastructure.