USDC Issuer Circle to Launch Cross-Border Payment Network: Circle Payments Network (CPN)
On April 21, USDC issuer Circle announced plans to launch its cross-border payment network, Circle Payments Network (CPN), in May 2025. This marks Circle’s transition from a stablecoin issuer to a global infrastructure provider for large-scale asset transfers.
As the core of this transformation, CPN will offer faster and lower-cost international remittances. To achieve this, the network will enable 24/7 real-time settlement of stablecoins and other regulated digital currencies across banks, payment providers, virtual asset service providers (VASPs), digital wallets, and other financial institutions.
The Current Bottlenecks in Cross-Border Payments
According to World Bank data, traditional cross-border payment settlements often take more than one business day, with average fees exceeding 6%, putting significant pressure on businesses and individuals in emerging markets and weakening their global competitiveness.
While SWIFT gpi has brought some improvements, only around 50% of cross-border payments globally settle within 30 minutes—the rest take hours or even days, showing that overall efficiency still lags behind.
Additionally, multiple intermediary banks, compliance checks, clearing systems across jurisdictions, and time zone differences further elongate the transaction chain and increase costs.
What Is Circle Payments Network (CPN)?
Circle Payments Network (CPN) is a global cross-border payment infrastructure expected to launch in May 2025, designed to seamlessly connect banks, digital wallets, payment service providers (PSPs), VASPs, and other financial institutions. It facilitates 24/7, point-to-point, real-time settlement through regulated stablecoins like USDC and EURC, integrating with domestic real-time payment systems (RTPS) worldwide.
Typical use cases supported by CPN include:
Supplier cross-border payments
Personal remittances
International payroll
Settlement of securities and derivatives in capital markets
Corporate treasury operations
On-chain financial applications
This marks a strategic upgrade of Circle’s role—from “stablecoin issuer” to “infrastructure provider for large-scale asset transfer.”
To ensure compliance and security, CPN will implement a strict governance and admission framework:
Participating institutions must hold appropriate financial licenses
Adhere to AML/CFT standards
Maintain robust financial risk management and cybersecurity systems
Additionally, smart contract integration and modular APIs are built into the CPN architecture, allowing third-party developers to build automated treasury workflows and innovative payment applications—driving the realization of a programmable, open global payment ecosystem.
If CPN Launches Successfully—What Would It Mean for Enterprises, Individuals, and Builders?
For Enterprises:
Cross-border payments throughout the supply chain can be settled nearly instantly, freeing up working capital that would otherwise be tied up in intermediaries and multi-layered settlement paths—reducing costs and FX risks
Functions like payroll, capital market settlements, and internal treasury operations will become significantly more efficient, helping businesses optimize cash flow
For Individuals:
Migrant workers, international students, and remittance users will see significantly reduced costs—potentially just a fraction of traditional fees
Settlement times could drop from days to minutes, greatly enhancing the remittance experience
For Builders (Developers):
CPN offers modular APIs based on smart contracts, allowing third-party developers to quickly build:
Automated financial workflows
New payment applications
Niche vertical solutions
Its open architecture creates room for more innovators to experiment with hybrid models that integrate blockchain and traditional finance—all in a compliant environment
How Big Is the Cross-Border Payment Market?
According to McKinsey, global cross-border payment revenues are around $200 billion, growing at ~6% annually, indicating strong demand
A Convera report estimates that wholesale cross-border payments (between large corporates and financial institutions) will grow from $146 trillion in 2023 to $225 trillion in 2030;
Meanwhile, retail cross-border payments (e.g., remittances, SME trade) will grow from $44 trillion to $65 trillion.
In total, the cross-border payment volume will increase from $190 trillion to $290 trillion
This clearly shows that whether it's high-value B2B transactions or small-scale personal and SME payments, cross-border payments will become a core growth engine of global financial infrastructure.
Conclusion
Circle’s shift from a stablecoin issuer to a global payment infrastructure provider is embodied in the launch of CPN, which connects regulated stablecoins with domestic real-time payment systems, aiming for instant, low-cost, programmable cross-border payments.
For enterprises, this means improved capital efficiency and enhanced global expansion capabilities
For individuals, it brings a tangible upgrade in remittance experience
For developers, it’s a programmable, open platform for financial innovation
