Circle has announced plans to launch the international payment network Circle Payments Network (CPN), set to debut in May 2025. This initiative aims to simplify and accelerate the process of international payments using stablecoins, particularly USDC and EURC.
This is reported by Finway
Circle, the issuer of stablecoins, developed CPN in collaboration with partners such as Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered Bank. According to the company’s press release, the new network will enable banks, neobanks, payment services, and digital wallets to conduct instant transactions in real-time.
“Since our inception, our goal has been simple: to make moving money as easy as sending an email. CPN is a significant step toward making this vision a reality for businesses around the world,” said Jeremy Allaire, co-founder and CEO of Circle.
According to World Bank data, the average cost of cross-border payments exceeds 6%, and they often take more than one business day due to numerous intermediaries and complex verification procedures. Circle Payments Network aims to eliminate these barriers by offering a predictable and transparent system that complies with licensing and anti-money laundering (AML) standards.
“CPN is a foundational layer for a seamless economy: it allows trusted institutions to instantly transfer value across borders,” explained Nikhil Chandhok, Director of Products and Technology at Circle.
In addition to the mentioned banks, international companies such as Flutterwave, dLocal, FOMO Pay, Coins.ph, Nuvei, Unlimit, Zodia Markets, and Fireblocks have also contributed to the development of the network. The latter is integrating its infrastructure to expand access to CPN.
It is worth noting that in early April 2025, Circle filed an application with the U.S. Securities and Exchange Commission to go public.