Circle Debuts Stablecoin-Based Network to Reduce Costs, Delays in Global Payments
Circle has launched the Circle Payments Network (CPN) to modernize cross-border payments, enabling banks and financial institutions to transfer money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC). The platform supports various financial services, including invoice payments, remittances, treasury services, payroll, and contractor payouts. Over 20 design partners, such as dLocal and WorldRemit, are involved, focusing on emerging markets and high-volume remittance corridors. CPN aims to address the slow and costly nature of international banking settlements. Circle positions itself as a foundational layer in global finance, with support from leading banks like Deutsche Bank and Standard Chartered. The initiative marks Circle's shift from stablecoin issuer to infrastructure provider. Additionally, Circle is exploring U.S. bank charters alongside other crypto firms.
