Circle, the company behind USDC, has announced a partnership with Sony Block Solutions Labs to bring its stablecoin to Soneium.
As a part of this collaboration, Soneium will integrate the Bridged USDC Standard. The Ethereum layer-2 blockchain will also make USDC one of the primary tokens for value exchange.
“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.
Circle CEO, Jeremy Allaire, also expressed his enthusiasm regarding the collaboration with Sony in the press release.
Bridged USDC serves as a proxy for native USDC held on Ethereum. It will enable developers building on Soneium to readily power their applications with digital dollar payments.
USDC is currently the world’s second-largest stablecoin, per CoinGecko data. It has a circulating supply of $35.6 billion and is listed on 373 crypto exchanges globally.
ZachXBT lambasts Circle over blacklisting
The announcement comes just two days after the stablecoin issuer’s disclosed plans to move their headquarters. The company announced that they will move their global headquarters to New York by 2025.
Circle CEO also noted that Circle will be located on one of the top floors of the One World Trade Center. While Circle is enjoying positivity on the development side of things, it faced backlash from one of the most prominent crypto sleuth, ZachXBT.
In a reply below Circle’s announcement of its headquarters relocation, ZachXBT slammed Circle and Allaire, stating that “you do not care at all about the ecosystem except extracting from it.” ZachXBT mentioned that Circle has never blacklisted any addresses after a DeFi exploit, even when there was ample time.
The crypto sleuth also stated that the company was profiting off of those transactions, adding that they took 4.5 months longer than every other major issuer to blacklist Lazarus Group funds.
Source: https://www.cryptopolitan.com/circle-and-sony-collaborate-to-enable-usdc/