Sony’s Ethereum L2 Gets Bridged USDC Standard Support: Here’s What It Means

• Sony’s Ethereum Layer 2 Soneium is getting Bridged USDC Standard support.
• The move promises greater ease for developers and security for users.
• The Circle USDC support is the latest in a growing line of integrations designed to bolster Sony’s planned creator haven.

Out of a desire to scale, Ethereum ‘s roadmap has evolved to become rollup-centric in a shift that has attracted multiple projects and even legacy corporations seeking to leverage the network’s technology, deep liquidity, and large user base. The most notable legacy firm that joined the growing lineup recently was the Japanese multinational conglomerate Sony.

Building on previous crypto interactions , the firm has unveiled and kicked off plans for an Ethereum Layer 2 chain called Soneium, which it has tipped to take Web3 mainstream by leveraging its distribution channels. The effort has recently received Circle’s support via the Bridged USDC Standard. Here’s what it means for Soneium and its users.

Growth, Ease, and Security 

Stablecoins are often the lifeblood of blockchains, offering an on and offramp that keeps users within the ecosystem while allowing more predictable DeFi services. For newer blockchains like Soneium, however, getting native stablecoin support is difficult due to a lack of volume. 

Newer blockchains often turn to bridged solutions offered by third parties to compensate for this lack of native stablecoin support. These solutions, however, often come with security and fragmentation trade-offs. Enter Circle’s Bridged USDC Standard. The standard offers smart contract specifications for EVM chains to deploy bridged USDC, allowing Circle to eventually take over these contracts for a seamless upgrade to native USDC.

The Bridged USDC Standard offers Soneium application developers greater ease. They would no longer have to worry about implementing changes when it is time to switch to native USDC while still being able to immediately power their applications with digital dollar payments. At the same time, the Bridged USDC Standard offers Soneium users more security guarantees, as Circle asserts that the smart contract code underpinning the standard is the same audited code behind the native stablecoin asset.

The Circle USDC support is the latest in a growing line of integrations designed to bolster Sony’s planned creator haven.

Sony’s Ethereum Layer 2 Testnet Gets Chainlink Support

Soneium’s USDC support follows the integration of Chainlink Data Feeds on its Minato testnet on September 12. This move offers developers access to off-chain data backed by Chainlink’s downtime, flash crash, and flash loan-resistant oracles, a move that will likely attract leading DeFi projects.

Amid these efforts to bolster the Soneium network, the Minato testnet has recorded over 4.3 million transactions from nearly 470,000 wallets since its August 28 launch, per the testnet’s explorer data at the time of writing.

On the Flipside 

• Popular Circle products, such as Circle Mint and Cross-Chain Transfer Protocol (CCTP), do not support the Bridged USDC Standard.
• Soneium’s mainnet has yet to launch.

Why This Matters 

Stablecoin support has often proved key to the growth of blockchains. Bridged USDC Standard support promises to offer Sony’s Ethereum Layer 2 Soneium this growth early in a seamless and secure manner for developers and users, bolstering the network’s vision of taking crypto mainstream.

Read this for more on Sony’s Soneium:
Sony’s Ethereum L2 Testnet Goes Live, Builders Enticed With Incubator  

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