Circle is launching a global payments network aimed at transforming international money transfers. The new solution will enable financial institutions to make cross-border payments faster and more cost-effective through the use of stablecoins.
Jeremy Allaire at MoneyConf 2018
Circle Internet Group, Inc. announced the launch of Circle Payments Network (CPN), a global payment infrastructure that allows banks, neobanks, payment providers, and digital wallet operators to conduct real-time cross-border transactions using regulated stablecoins USDC and EURC.
Development of CPN involved industry giants such as Deutsche Bank, Société Générale, Standard Chartered Bank, and over 30 other FinTech organizations and TradFi institutions.
The new network offers a wide range of cross-border payment capabilities for businesses, financial institutions, and individuals, including:
- capital market settlements;
- internal treasury operations;
- mass payouts;
- supplier payments;
- payroll disbursements and more.
CPN is also designed to serve as a platform for third-party developers, enabling the creation of new financial apps and automation of business processes through smart contracts and modular APIs.
Circle Payments Network will launch in pilot mode in May 2025. Among the first participants are:
- BlackRock, the American multinational investment firm;
- Fireblocks, a platform specializing in secure digital asset custody and transfer;
- Nubank, one of the largest neobanks in Latin America.
“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,” emphasized Jeremy Allaire, Co-Founder and CEO of Circle.
Circle continues to actively explore the use of stablecoins in financial markets and recently launched a compliance platform for Web3 apps.
