Circle launched the Circle Payments Network (CPN).
Aiming to revolutionize cross-border payments using stablecoins like USDC and EURC.
CPN could reduce costs and settlement times, potentially disrupting traditional systems like SWIFT.
CPN will enhance financial inclusion with support from major banks and 20 design partners.
Circle, a leading stablecoin issuer known for $USDC, unveiled the Circle Payments Network (CPN), a new infrastructure aimed at transforming cross-border payments.
This launch, announced just days ago, seeks to address the inefficiencies of traditional systems, which often take longer than one business day to settle and can cost over 6% in fees, disproportionately impacting emerging markets.
The platform leverages stablecoins like USDC and EURC, which are pegged to fiat currencies, ensuring stability compared to volatile cryptocurrencies. This stability, combined with blockchain technology, enables real-time settlements, a significant improvement over legacy systems like SWIFT. The launch aligns with Circle’s vision, as stated by CEO Jeremy Allaire, to make moving money as simple as sending an email.
Announcing Circle Payments Network!A streamlined way for financial institutions to connect, orchestrating global money movement, powered by stablecoins like USDC and EURC for 24/7 real-time settlement.Existing cross-border payments can be slow and expensive.CPN is designed… pic.twitter.com/PIyHKRCPQP
— Circle (@circle) April 21, 2025
Detailed Features and Functionality
CPN is designed to connect financial institutions, including banks, neo-banks, payment service providers, and digital wallets, facilitating seamless transactions. It supports use cases such as invoice settlement, remittances, treasury management, and contractor payments.
The platform’s ability to offer near-instantaneous, 24/7 payments is a key feature, addressing the delays driven by multiple intermediaries and fragmented operating hours across jurisdictions.
Stablecoins like USDC, with an all-time transaction volume exceeding $26 trillion since September 2018 and a 78% yearly growth from January 1, 2024, to January 1, 2025, according to CoinMarketCap, underpin CPN’s efficiency.
Partnerships and Advisory Support
Circle has enlisted significant support for CPN, with advisors including Deutsche Bank, Santander, Standard Chartered, and Societe Generale, ensuring robust design and compliance.
Additionally, it has onboarded 20 design partners, such as Flutterwave, CoinMENA, Coins.ph, WorldRemit, and Yellow Card, reflecting broad industry interest. This collaboration is crucial for scaling CPN, with a pilot phase already underway and a limited release planned for May 2025.
Industry Impact and Potential
CPN’s launch could disrupt the $156 trillion cross-border payments market, challenging players like Ripple and traditional systems. By reducing costs and settlement times, it could enhance financial inclusion, particularly in emerging markets, where high fees and delays limit global competitiveness.
The platform’s use of stablecoins also positions it as a bridge, potentially integrating digital assets into mainstream transactions.
The recent passage of the STABLE Act provides regulatory clarity, boosting Circle’s confidence to offer more stablecoins, which could further support CPN’s growth. However, its long-term success will depend on adoption rates, regulatory developments, and competition from established players.
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