Circle, the transmitter behind USDC and EURC Stablecoins, is launching a new global payment system that will rationalize cross -border banking transactions.
According to a press release on April 21, the Circle Payments Network connects banks, fintech companies, digital portfolios and other financial institutions to allow real -time cross -border transactions using regulated stalins like USD Coin (USDC) and EURC (EURC)
International payments currently involve a number of intermediaries, slow settlement times and high costs, especially for users of emerging markets. The CPN is designed to combat ineffectures by combining robust compliance standards, such as KYC / AML procedures and cybersecurity, with Stablecoin 24/7 regulations.
Treasury operations, ONCHAIN’s financial applications, payroll, funding and corporate payments are some of the many CPN-supported use cases. The system allows developers to create financial tools and workflows directly above the network thanks to the use of intelligent contracts and programming interfaces for modular applications.
Circle collaborates with partners such as Banco Santander, Deutsche Bank, general and standard chartered company to design the network’s architecture and compliance requirements. Several other Finch and Infrastructure partners, including BCB Group, Flutterswave, Dlocal, Coins.Ph, Zodia Markets and Fireblocks, help develop local integrations and access points.
Circle’s leadership thinks that CPN could become the backbone of a programmable financial system and always on. “Since our foundation, Circle’s vision has been to make the money moving as simple and effective as sending an email,” said Jeremy Allaire, co-founder and CEO of Circle. “CPN is an important step to make this vision a reality for businesses around the world.”
The network should be launched for a limited basis in May 2025, with an open participation in approved financial institutions worldwide. The launch comes while Circle and other crypto companies such as Coinbase, Paxos and Bitgo are preparing to ask for bank licenses in the United States, according to the April 21 report of the Wall Street Journal.
Crypto-native companies and established banks as Chartered Standard and Deutsche Bank are positioning themselves to increase their presence on the American cryptography market due to the evolution of regulatory attitudes. Compared to previous years when American regulators have discouraged banks, this represents a significant change.
