Stablecoin issuer Circle has launched a partnership with Sony Block Solutions Labs.
The collaboration, announced in a news release Sunday (Sept. 15), is designed to “drive innovation and creativity through decentralized technologies” on the Soneium blockchain ecosystem, Circle said.
With the partnership, Soneium “will integrate Bridged USDC Standard and establish bridged USDC as one of the blockchain’s primary tokens for value exchange,” the release added, referring to Circle’s USDC coin.
“We are thrilled to be partnering with Sony Block Solutions Labs to re-imagine how creativity and innovation are supported in the digital age,” said Jeremy Allaire, Circle’s founder and CEO. “This collaboration marks a significant milestone for Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology, and empower creators to flourish through secure, user-friendly Web3 experiences.”
The release describes Soneium as a “versatile, general-purpose blockchain,” that can unlock new opportunities for creators and users by integrating bridged USDC.
“By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance,” said Jun Watanabe, chairman of Sony Block Solutions Labs. “This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem.”
In other stablecoin news, PYMNTS wrote last month about Wyoming’s efforts to develop a U.S. dollar-backed stablecoin to be used for consumer payments, noting that the move had left observers wondering if stablecoins could offer the best onramp for users to enter the digital asset space.
“As more merchants begin to potentially accept stablecoins as a form of payment, users will have more opportunities to engage with digital assets in a way that feels familiar and secure,” PYMNTS wrote. “This could lead to a gradual increase in cryptocurrency adoption among end-users, including businesses that might otherwise have been hesitant to enter the market.”
That report also noted that it is the B2B sector in particular where stablecoins — and their regulated use and policy frameworks — show a particular promise as a tool for streamlining cross-border transactions.
“It’s important to know that crypto is not just bitcoin and Doge and NFTs,” Sheraz Shere, head of payments at Solana Foundation, said in an interview with PYMNTS posted in May. “… Blockchains are really alternative rails for payments and financial assets.”
“An issue has been that the technology has not been user-friendly,” Shere added. “It’s all been designed by engineers … to be very tech-centric and not use case or UX centric.”
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More