Circle launches the global payment network CPN, providing stablecoin cross-border payment services with USDC and EURC.

Stablecoin issuer Circle officially announced the launch of the Circle Payments Network (CPN), centered around regulated products such as the USDC stablecoin and the EURC stablecoin, connecting global Financial Institutions to achieve low-cost, instant, and transparent cross-border payments, symbolizing a new milestone in the application and popularization of stablecoins.

Circle builds a new generation of cross-border payment infrastructure

Circle announced yesterday the launch of CPN, which aims to connect banks, emerging banks, payment service providers (PSP), virtual asset service providers (VASP), and digital wallets with Financial Institutions to achieve 24/7 real-time cross-border payment settlement. CPN utilizes regulated stablecoins, such as USDC and EURC, to provide a faster, more transparent, and programmable payment experience.

Announcing Circle Payments Network!

A streamlined way for Financial Institutions to connect, orchestrating global money movement, powered by stablecoins like USDC and EURC for 24/7 real-time settlement.

Existing cross-border payments can be slow and expensive.

CPN is designed… pic.twitter.com/PIyHKRCPQP

— Circle (@circle) April 21, 2025

According to data from the World Bank, the current average settlement time for cross-border payments exceeds one business day, with costs exceeding 6%, which adversely affects emerging markets. The design goal of CPN is to simplify the payment process, reduce costs, and enhance transaction transparency through blockchain technology.

The CPN operation process focuses on compliance and security, supported by global banks.

The CPN official website shows that participants in the network adopt a strict qualification review system, requiring Financial Institutions to possess relevant licenses, compliance measures for anti-money laundering ( AML ) and counter-terrorism financing ( CFT ), financial risk management capabilities, and cybersecurity protection mechanisms.

This move has garnered support from several international banks, including Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered, which jointly assist in designing a network architecture that meets the needs of global Financial Institutions.

Standard Chartered Bank's Global Trading Head Michael Spiegel stated:

We continuously seek opportunities to enhance the efficiency, security, and compliance of cross-border payments. Circle's compliance-first strategy brings revolutionary changes to cross-border capital flows, and we are pleased to collaborate with them to support the successful implementation of CPN.

On-chain and off-chain application scenarios and diverse developer ecosystem

CPN not only supports payments to suppliers, remittances, payroll, capital market settlements, and internal financial operations, but it can also be applied in on-chain financial applications. Through modular APIs and smart contract infrastructure, developers can build advanced modules, application services, and automated financial processes on CPN.

Currently, multiple fintech companies and payment platforms have joined the CPN design partnership, including Fireblocks, Yellow Card, Conduit, RedotPay, and Zodia Markets.

As stated by Circle's Chief Technology Officer Nikhil Chandhok:

By facilitating stablecoin payments, the Circle Payments Network enables payment providers to explore new markets and business models faster than ever before.

From regulation to payment, Circle is actively paving the way for its IPO.

A few days ago, Circle just launched the Refund Protocol to address the issues of refund and dispute resolution mechanisms lacking in stablecoin transactions. Through non-custodial smart contracts, it achieves transparent and programmable fund custody. When facing transaction disputes, neutral arbitrators assist in resolving them, eliminating the need to rely on centralized intermediaries, thus enhancing the flexibility and security of transactions.

(Can stablecoins also be refunded? Circle launches Refund Protocol to create a Web3 version of credit card dispute resolution mechanism )

At the same time, Circle is also actively preparing for its listing in the United States. According to the documents submitted to the SEC for the years 2021 to 2024, Circle has issued a cumulative total of over 504.3 billion USD of USDC, with total revenue reaching 1.68 billion USD last year, and an estimated valuation of 9 billion USD, demonstrating its core position and financial stability in the stablecoin business.

(Circle challenges IPO again, overcoming headwinds to achieve net profit. Is stablecoin a good business? )

This article discusses Circle's launch of the Global Payment Network (CPN), which uses USDC and EURC to create stablecoin cross-border fund flow services, first appearing in Chain News ABMedia.