Sonic Labs has announced that the Ethereum virtual machine layer-1 chain Sonic now supports the bridged version of Circle stablecoin USDC.
The USDC.e stablecoin on Sonic, bridged from native USDC (USDC) on Ethereum via the Sonic Gateway, is now live on the EVM L1. Sonic will leverage Circle’s bridged USDC standard, according to an announcement from the platform.
By integrating bridged USDC, Sonic aims to bring the stablecoin’s benefits to its ecosystem and help jumpstart developer activity. The bridged version allows newly launched networks to reduce liquidity fragmentation and often leads to eventual upgrading to native support.
Why bridged USDC?
With bridged USDC, developers can build decentralized applications on Sonic with contract addresses that will remain even when the network upgrades to native USDC.
Bridged USDC means no code changes during potential native support. Users across the ecosystem will also have a better experience when swapping tokens on decentralized exchanges, and access benefits of liquidity provision and payments.
Circle recently partnered with Binance, the world’s largest cryptocurrency exchange by volume, to accelerate USDC adoption. And after securing MiCA registration, the USDC issuer achieved another milestone by becoming the first issuer to meet Canada’s new regulations.
Sonic network users can get bridged USDC from Ethereum via Sonic Gateway; from Solana and Fantom via deBridge. USDC bridging is also available from other blockchains and DEXs to Sonic.
In December 2024, Sonic Labs announced that the L1’s proposal for Aaave integration has passed the temp check stage. Meanwhile, Sonic has welcomed key partnerships including with Curve Finance, KyberSwap and Sushi. Multiple exchanges also announced support for the FTM to S migration.
Read the full article here