EddieJayonCrypto
22 Apr 25
Circle, the company behind USDC stablecoin, has launched the Circle Payments Network (CPN), an infrastructure platform to enable banks and financial institutions to transfer money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC). CPN supports various payment types includ...
Circle has launched the Circle Payments Network (CPN), an innovative platform designed to enable instant, 24/7 cross-border payments using fully reserved USDC and EURC stablecoins for banks and financial institutions.CPN targets various payment use cases including invoice payments, remittances, treasury services, payroll, and contractor payouts, with participation from over 20 design partners such as dLocal, WorldRemit, BVNK, Yellow Card, and Coins.ph, focusing primarily on emerging markets and high-volume remittance corridors.The initiative aims to modernize the traditionally slow and costly international banking settlement systems by providing programmable, secure transfers that operate at "internet speed" and are always available.USD stablecoins have a combined market capitalization exceeding $231 billion, with Circle’s USDC holding approximately $60 billion of that market.This launch marks a strategic shift for Circle from being solely a stablecoin issuer to becoming an infrastructure provider, positioning itself as a foundational layer in the global financial ecosystem.Circle has also garnered backing from leading banks such as Deutsche Bank and Standard Chartered, who are actively involved in shaping the network.In parallel, Circle plans to deepen its engagement with traditional finance by seeking U.S. bank charters or licenses, aligning with growing institutional interest in crypto and even amidst broader geopolitical ambitions to position the U.S. as a key player in bitcoin and crypto innovation.