Circle Debuts Stablecoin-Based Network to Reduce Costs, Delays in Global Payments

Circle, the company behind the USDC stablecoin, has unveiled an infrastructure platform aimed at modernizing cross-border payments by allowing banks and financial institutions to move money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC).

The Circle Payments Network (CPN) will allow banks and financial providers to send money instantly, 24/7, using stablecoins like USDC and EURC. It is designed to support invoice payments, remittances, treasury services, payroll, and contractor payouts.

More than 20 design partners are already participating, including dLocal, WorldRemit, BVNK, Yellow Card, and Coins.ph, signaling a focus on institutions operating in emerging markets and high-volume remittance corridors.

“We are not just building stablecoins. We are building a modern infrastructure for global payments,” Circle said in a post on X.

The initiative takes aim at the aging infrastructure of global finance. International banking settlements are notoriously slow, expensive, and hindered by legacy systems.

 Though it’s hardly the first fintech to try and revolutionize cross-border payments or replace SWIFT—and none have yet succeeded—Circle claims banks and payment providers will be able to move money “at internet speed” through programmable and secure transfers that are always available. 

USD stablecoins now boast a combined market cap north of $231 billion, according to CoinGecko, with over $37 billion traded in the past 24 hours. Tether’s USDT continues to dominate at $144 billion, while Circle’s USDC accounts for around $60 billion of the market.

The launch represents a strategic expansion of Circle’s role from a stablecoin issuer to a provider of the infrastructure that moves those assets at scale. 

With CPN, Circle is trying to position itself as a foundational layer in the global financial stack. The company says “leading banks” are helping shape the network, referring to the advisors listed on its website, which include Deutsche Bank and Standard Chartered. 

At the same time, Circle is looking to deepen its foothold in the traditional finance world. 

As reported by The Wall Street Journal on Monday, Circle is among a group of crypto firms—including BitGo, custodian of the Trump family’s stablecoin USD1—planning to seek U.S. bank charters or licenses as the former president positions the country as a potential “bitcoin superpower.”

Edited by Sebastian Sinclair