Electronics giant Sony has expanded Web3 adoption through its latest partnership with the stablecoin issuer Circle behind USDC. Through Sony’s subsidiary, Sony Block Solutions Labs, the electronics company will bring decentralized features and make USDC the primary transaction token on the Soneium blockchain.
Soneium is a multipurpose Ethereum layer-2 blockchain established by Sony Technology Group in August 2024 to support users globally and incorporate the diverse features of blockchain technology. It is still in development stage and will be launched in 2025.
Sony Collaborates With Circle
Following the partnership, the layer-2 blockchain will allow users and developers to enjoy borderless payments using a bridged version of the U.S. dollar-pegged stablecoin, USDC.
Bridged USDC refers to a version of USDC moved from its original base blockchain, Ethereum, to the new blockchain, Soneium. In this process, USDC is locked on Ethereum while the system mints an equivalent quantity on the new blockchain, backed by the original deposit.
Additionally, by following Circle’s standard implementation process, Sony ensures a flexible future for Soneium, allowing it to upgrade to native USDC issuance without disrupting the entire project structure.
Sony and Circle Reacts to Partnership
Both companies see the partnership as in important milestone for Web3 adoption. Co-founder and CEO of Circle, Jeremy Allaire, said:
“We are thrilled to be partnering with Sony Block Solutions Labs to re-imagine how creativity and innovation are supported in the digital age. 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.”
Jun Watanabe, Chairman of Sony Block Solutions Labs, highlighted that integrating Circle’s financial infrastructure into Soneium is an ideal step towards the company’s plan to redefine the landscape of digital entertainment and finance and create a more interconnected and efficient digital ecosystem. He said:
“We are excited about the potential this partnership unlocks, not just for technological advancement, but for delivering tangible benefits to Soneium and users worldwide.”
Sony has shown significant interest in blockchain technology and the crypto industry. Recently, the gadget company established its crypto trading platform in Japan by acquiring the bankrupt exchange Amber Japan.
