Circle Internet Group announced the launch of its Circle Payments Network (CPN), a new system designed to connect financial institutions for cross-border payments using regulated stablecoins.
The network aims to enable faster, lower-cost international money transfers by utilizing stablecoins such as USDC, EURC, and other regulated digital currencies for real-time settlement between participants like banks, payment providers, virtual asset service providers, and digital wallets.
Circle stated the initiative addresses inefficiencies in cross-border payments, which can often take more than a business day and incur significant costs, citing World Bank data highlighting average costs exceeding 6%.
CPN is intended to link participants to domestic real-time payment systems and streamline cross-border settlements by reducing reliance on multiple intermediaries.
Financial institutions participating in the network must meet eligibility criteria including licensing, compliance with anti-money laundering regulations, financial risk management, and cybersecurity standards.
The network supports a range of use cases, including supplier payments, remittances, payroll, capital markets settlement, treasury operations, and onchain financial applications.
It leverages smart contract infrastructure and modular APIs, allowing developers to build applications and automated financial workflows directly on the network.
Circle is collaborating with several major banks, including Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered Bank, who are advising on the network’s design.
Other fintech and payment companies involved as initial design partners include Alfred Pay, BVNK, Coins.ph, Flutterwave, FOMO Pay, Triple-A, Yellow Card, Zepz, and several others.
Digital asset infrastructure platforms such as Fireblocks are also working to connect their networks of institutional customers to expand access to CPN and improve the efficiency of cross-border payments.
The launch of CPN marks a broader evolution for Circle, extending its role beyond stablecoin issuance and developer platforms to building connected payment infrastructure.
Circle expects to release the network in limited capacity starting in May 2025.
“Since our founding, Circle’s vision has been to make moving money as simple and efficient as sending an email.
CPN is a significant step in making that vision a reality for businesses worldwide.”
said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle.
“Circle Payments Network is a foundational layer for the always-on economy — enabling trusted institutions to move value across borders, instantly.
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.”
said Nikhil Chandhok, Chief Product and Technology Officer at Circle.
