Circle the issuer of USDC is constantly expanding its feets in crypto and other related sectors, according to a press release dated April 21, 2025 the fintech is planning to roll out its new cross border payment in May.
The press release notes that Circle Payment Network (CPN) will enable financial institutions and will also enable real-time settlement of cross-border payments leveraging its stablecoins USDC and EURC, including other regulated stablecoins.
Circle now aims to tuck USDC at the top
Over the time the circulation, usage and adoption of stablecoins has grown mimicking the skyrocketing trend of the wider crypto market; the Circle has deeply leveraged the event and now USDC is 2nd most circulated stablecoins in the market.
With this development over the cross border payment, Jeremy Alliare the Chief Executive Officer of Circle said, “ Since our founding, Circle’s vision has been to make moving money as simple and efficient as sending an email,” he added “ CPN is a significant step in making that vision a reality for businesses worldwide.”
As per available information, Circle Payment Network will enable a wider spectrum of cross-border money movement use cases for individuals, financial institutions, including remittance, payroll, capital market, and on-chain financial applications.
Nikhil Chandok the Chief Product and Technology at Circle said, “ Circle Payments Network is a foundational layer for the always-on economy — enabling trusted institutions to move value across borders, instantly.”
He also said, “ With programmable infrastructure at its core, CPN makes it possible to embed value transfer into modern financial applications in ways that weren’t feasible before.”
Over the time, Circle has joined hands with traditional as well as crypto based firms to reach broder masses all over the globe.
Is the stablecoin market in a full revival phase?
By the end of 2024 stablecoins category succeeded in surpassing the milestone of $200 million and is now expected to break $500 million probably by the end of 2025 or mid of 2026.
A few known crypto based analysis firms argue that the stablecoin market is expected to grow at a rate of 17.23% and reach the mark of $1 trillion by 2035. Other than its usage in swapping for crypto, the stablecoin is now heavily used in cross border payments.
The demand of stablecoins after the growing awareness of cross border payments through blockchain technology has sparked a greater demand for these products, which further helped the issuers of stablecoins to mint more coins in order to meet the demand.
However the involvement of known financial giants like PayPal and Standard Chartered in stablecoins and crypto has strengthened the beliefs of the investors over the digital assets.
Other than these factors a few nations have been actively working for the development of their in house stablecoin, and some others are developing an regional alternative for crypto.
