Sony's Blockchain Partner Startale Launches Dollar Stablecoin on Soneium

Source: CryptoNewsNet Original Title: Sony’s Blockchain Partner Startale Launches Dollar Stablecoin on Soneium Original Link: Startale Group, the blockchain firm collaborating with tech conglomerate Sony on its web3 platform Soneium, has debuted a stablecoin pegged to the U.S. dollar.

Dubbed Startale USD (USDSC), the token is intended to serve as the default digital dollar for payments, rewards, and other functions across the Soneium ecosystem. Soneium is an Ethereum layer-2 network, launched last year by Sony Block Solutions Labs, a joint venture between Sony Group and Startale.

The move comes as Japan steps further into the digital money trend with stablecoins, a $300 billion group of cryptocurrencies tied to fiat money, becoming increasingly viewed as a payments alternative. Regulators have already greenlit pilot projects for Japanese yen-based stablecoins from major banks MUFG, SMBC and Mizuho. Meanwhile, Sony Bank, which was spun out from the tech firm earlier this year, reportedly plans to issue its own stablecoin next year.