Circle Launches Innovative Global Payments network
Circle, the company behind USDC and EURC stablecoins, is set to revolutionize cross-border payments. The new Circle Payments Network (CPN) aims to simplify international transactions.
Currently,global payments are slow,costly,and involve many intermediaries. CPN addresses these issues by using regulated stablecoins like USDC and EURC. This enables real-time,secure transactions 24/7.
CPN supports various uses,such as treasury operations,payroll,and remittances. Developers can build financial tools on the network using smart contracts and APIs.
Circle is working with major banks like Banco santander and Deutsche Bank to design CPN. Fintechs like BCB Group and Flutterwave are also involved. This collaboration ensures robust compliance and local currency access.
Jeremy Allaire, Circle’s CEO, says CPN will make moving money as easy as sending an email. the network is set to launch in May 2025, initially for licensed financial institutions.
This launch comes as Circle and other crypto firms prepare for U.S. banking licenses. It reflects changing regulatory attitudes towards crypto. Both crypto companies and traditional banks are now expanding their presence in the U.S.crypto market.
