Circle has rolled out its Circle Payments Network (CPN), designed to change the landscape for cross-border transactions. The new offering attempts to snag market share for Ripple Payments, pitting both heavyweights in a scramble for dominance.
Circle Launches CPN For Cross-border Payments
Stablecoin issuer Circle has announced a payments network for financial institutions offering real-time and cost-effective payments. According to the announcement on X, the Circle Payments Network will provide round-the-clock, low-cost, and near-instant settlement for financial institutions.
Per the statement, CPN will lean on Circle’s stablecoins USDC and EURC for settlement, sidestepping traditional bottlenecks. The stablecoin issuer says CPN will support invoice payments, remittances, treasury services, and contractor payouts.
“By orchestrating stablecoin payments, Circle Payments Network enables payment providers to unlock new markets and new business models faster than ever before,” said C
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