- Circle launches CPN to enable real-time, low-cost cross-border payments with stablecoins.
- USDC and EURC power CPN’s settlement layer, simplifying global financial transactions.
- Over 20 partners back CPN, bridging traditional finance with digital asset infrastructure.
Circle Internet Group, Inc. has unveiled its new global financial platform, the Circle Payments Network (CPN), designed to revolutionize real-time cross-border payment settlements using regulated stablecoins. The launch represents a significant milestone in Circle’s journey, wherein it connects banks, payment providers, digital wallets, and virtual asset services to facilitate a seamless financial transaction across borders.
CPN: A Solution for Global Payments
Facilitating fast and low-cost payments, CPN directly addresses the long-standing inefficiencies in traditional global money transfer systems. In addition, it also supports several use cases like supplier payments, remittances, payroll, capital market settlements, and treasury operations. Being an efficient and dynamic tool for facilitating international businesses. CPN integrates local real-time payment systems, thus presenting a global settlement solution.
To accelerate adoption, Circle has partnered with over 20 design partners, including dLocal, Flutterwave, and Coins.ph. These partnerships ensure broader industry support and highlight the growing demand for digital-first financial infrastructure. The goal is to enable stablecoin settlement anytime and anywhere, making cross-border transactions more efficient and accessible.
Enabling Cross-Border Transactions with Stablecoins
Circle’s stablecoin, USDC, along with EURC, will be at the core of this payment network, bringing the reliability of regulated digital assets to the world of cross-border finance. Sharing his thoughts, Jeremy Allaire, Circle CEO, stated that the CPN is a significant step in making vision a reality for businesses worldwide. Real-time payment capabilities of these stablecoins simplify clearing processes, reducing time compared to traditional banking, giving businesses a distinct edge with their speed and efficiency.
Related: Circle moves to IPO after failed SPAC and delays: Report
A Step Towards a More Programmable Financial System
With the new offering, Circle includes programmable infrastructure that allows developers to build innovative financial applications on top of CPN. With smart contract integration, this technology is characterized by great adaptability, thus putting CPN at the forefront of embedding value transfer into financial services applications that were not possible earlier.
Nikhil Chandhok, Chief Product and Technology Officer at Circle, explained, “With programmable infrastructure at its core, CPN makes it possible to embed value transfer into modern financial applications.”
By the end of the year, Circle is planning to announce the expansion of CPN access, beginning with a limited release in May 2025, where licensed financial institutions from all over the world are allowed to participate. With this move, the firm aims to connect traditional finance with digital assets, transforming global payments for the future.
