Circle to start new global payments and remittance networks

Circle, issuer Behind the USDC and EURRC StableCoins launches a new global payment system that will simplify cross-border bank transactions.

According to a announcement 21. April, the circuit’s network connects banks, Fintech companies, digital banknotes and other financial institutions to allow cross-border transactions, cross-border transactions using regulated stableCOinsOins such as a coin for USD (USDC) and EURRC (EURRC)

International payments currently include a number of intercession, slow alignment time and high fees, especially for users in emerging markets. The CPN is designed to engage in inefficiency by combining robust compliance standards, such as KIC / AML and cybergenity procedures, with a settlement of 24/7 stablecoin.

Treasury jobs, onchain financial applications, paylists, remittances and business payments are some of the many cases of use that support CPN. The system allows developers to create financial tools and workflows directly to the top of the network using smart contracts and modular application interfaces.

Circle cooperates with partners like Banco Santander, Deutsche Bank, Societe Generale and Standard Chartered to design the architecture of the Network and compliance Requirements. Several other Fintechs and infrastructure partners, including BCB Group, Flutterwave, Dlocal, Coinsf.ph, Zodia Markets, and Cockapital Blocks, help build integration and local access points.

Leadership Circle believes that CPN could become the backbone of the programmable, always on the financial system. “Since our founder, Circle Vision became moving money as simple and efficient as email sending,” Jeremi Allaire, Circle of the Jereaver and the director said. “CPN is a significant step in making this vision a reality for businesses worldwide.”

The network is expected to run in a limited capacity in May 2025. years, and participation is open to licensed financial institutions globally. Starting comes as a circle and other crypto companies like a waiter, Pakos and the Bitgo, as allegedly prepare to apply for banking licenses in the United States, according to Apr. April Wall Street report.

Both crypto-domestic companies and established banks such as standard official and Deutsche banks are invited to increase their presence in the American crypto market as a result of change regulatory Attitudes. Compared to previous years when American regulators discouraged banks, it is a significant change.