FinTech company Circle announced a collaboration with Sony Block Solutions Labs to integrate USD Coin (USDC) into Soneium, Sony’s public Ethereum layer 2 blockchain ecosystem. 

The partnership aims to establish bridged USDC as a primary token for value exchange on the platform.

Soneium, described as a general-purpose blockchain, is designed to support various needs across multiple sectors globally. By incorporating bridged USDC, Soneium seeks to facilitate seamless, secure, and borderless transactions for creators and users worldwide.

The integration will utilize the Bridged USDC Standard, a specification for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM)-compatible blockchains. This standard allows developers building on layer 2 blockchains like Soneium to incorporate digital dollar payments into their applications.

“This collaboration aligns ideally with our vision of creating a more interconnected and efficient digital ecosystem,” said Jun Watanabe, Sony Block Solutions Labs Chairman, in a press release. 

Watanabe expressed enthusiasm about the partnership’s potential for technological advancement and tangible benefits to Soneium and its users worldwide.

Jeremy Allaire, co-founder and CEO of Circle, stated that this collaboration is a major step forward in Circle’s mission to accelerate the adoption of stablecoins and blockchain technology and empower creators to flourish through secure, user-friendly Web3 experiences.

Speaking of Web3, HYBE subsidiary BINARY KOREA recently signed a memorandum of understanding with Coinbase to develop an Onchain Engagement Protocol. The partnership focuses on integrating AI and Web3 solutions to streamline payments between fans and creators.

In July, Web3 platform STIX partnered with CREATOR to bring meme-based crypto engagement to a potential audience of 30 million monthly active users and connect traditional user-generated content (UGC) with the crypto world.

In August, it was reported that Wyoming was developing its own U.S. dollar-backed stablecoin for consumer payments. 

Advocates of the project argued the stable token would provide a faster and cheaper way for individuals and businesses to transact, create a new revenue stream for the state, and serve as a model for a stablecoin at the federal level.

“It is clear to me that digital assets are going to have a future,” Wyoming Governor Mark Gordon told CNBC. “The U.S. has to address this issue. Washington’s being a little bit stodgy, which is why Wyoming, a nimble and entrepreneurial state, can make a difference.”