Circle introduced a new platform called Circle Payments Network (CPN) that aims to revolutionize cross-border payments using stablecoins such as USDC and EURC. This new service is set to launch in early May 2025 and will provide a seamless, low-cost, and transparent way for banks, neobanks, payment providers, and digital wallets to transfer funds across borders in real-time. The World Bank has estimated that traditional settlement delays can cost over 6% in fees and exceed one business day, particularly impacting emerging markets and small businesses that rely on international payments.
With institutional adoption in mind, CPN has stringent eligibility criteria including licensing, anti-money laundering (AML) and counter-terrorism financing (CFT) compliance, cybersecurity safeguards, and financial risk controls. The platform is designed to integrate with domestic real-time payment networks, connecting local currencies with digital dollars and euros to facilitate cross-border transactions seamlessly. Circle CEO Jeremy Allaire expressed his vision of making money movement as simple and efficient as sending an email, stating that CPN brings this vision closer to reality by enabling real-time, compliant value transfer between trusted institutions worldwide.
CPN is programmable by design, featuring smart contract infrastructure and modular APIs that allow developers to embed financial workflows into applications. This flexibility supports a wide range of business use cases including international payroll, supplier payments, remittances, capital market settlements, and treasury operations. To ensure the network meets operational, compliance, and security standards expected by top-tier financial firms, Circle is collaborating with major global banks such as Standard Chartered, Deutsche Bank, Banco Santander, and Société Générale. More than 30 fintech and digital payment companies are also involved as design partners to help test and expand CPN’s global reach.
In addition to major financial institutions, infrastructure providers like Fireblocks are connecting their institutional client networks to CPN to enhance access and liquidity. This collaborative effort aims to create a more efficient and cost-effective system for cross-border payments, ultimately benefiting a wide range of businesses and individuals who rely on international transactions. With its focus on real-time settlement and regulatory compliance, CPN represents a significant step forward for Circle in supporting the global financial system, and may pave the way for other organizations to adopt similar innovative solutions in the future.
