Circle Unveils Global Payment Network Built on USDC and EURC Stablecoins

Jimmy Aki
Last Updated:

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

On April 21, Circle announced the launch of its global payments network, which will be powered by regulated stablecoins.

Dubbed the “Circle’s Payments Network (CPN),” this platform is designed to enable real-time, cross-border transactions using USDC, EURC, and other regulated payment stablecoins.

Using Stablecoins to Simplify Cross-Border Payments and Global Transactions

The system aims to modernize international transactions by enabling fast, compliant, and programmable money movement.

The new platform will connect banks, payment service providers, and digital wallets, streamlining international payments and reducing the need for traditional intermediaries.

CPN is built to address inefficiencies in current cross-border banking systems, such as slow settlements, high fees, and limited access in emerging markets.

To achieve this, CPN delivers 24/7 stablecoin settlement and enforces strict compliance through KYC, AML protocols, and strong cybersecurity measures.

The network supports use cases such as remittances, payroll, business payments, treasury operations, and on-chain financial applications.

Furthermore, blockchain developers can build financial tools directly on CPN through smart contracts and modular APIs.

Circle has partnered with major institutions like Deutsche Bank, Société Générale, and Standard Chartered to design the system’s infrastructure and compliance.

The launch coincides with Circle’s preparation for an initial public offering (IPO) on the New York Stock Exchange and a broader move by crypto-native companies to secure U.S. banking licenses. The network also positions Circle in direct competition with traditional payment giants like Visa and Mastercard.

CEO Jeremy Allaire described CPN as a step toward making fund movement as simple and efficient as sending an email.

Governments and Fintech Companies Eye Stablecoins for Cross-Border Payments

Predating the launch of CPN, Circle also introduced a Refund Protocol to address one of stablecoin payments’ biggest challenges: dispute resolution.

This smart contract-based system allows for non-custodial lockups, refunds, and third-party mediation in ERC-20 transactions.

While USDC currently lags behind Tether’s USDT in market share, Circle is betting on transparency, regulatory compliance, and programmability to close the gap and gain ground in the stablecoin market.

Additionally, stablecoins are drawing attention from crypto companies, financial organizations, governments, and regulatory bodies worldwide.

Dubai has now approved USD-backed USDC and EURO-backed EURC as legal tender within the region’s economic free zone.

Countries like Russia and Belarus are exploring proprietary stablecoin currencies to bypass Western sanctions in cross-border payments, while the European Union (EU) is working towards the establishment and rollout of its digital currency, the digital euro, to reduce the dominance of US-backed digital currencies and stablecoins.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.