Circle’s new ‘Payments Network’ aims to bridge the gap between traditional and blockchain payments, with strong early adoption in Latin America and plans for global expansion in 2025.
Circle has launched the Circle Payments Network (CPN), a blockchain-based system designed to support B2B cross-border payments using its USDC stablecoin.
Launched on May 23, the network allows financial institutions to send and receive payments over public blockchains. The launch sets up USDC as a key tool for global business payments, helping to fix the delays and complications often associated with traditional cross-border transactions.
According to Circle, CPN is designed to support a range of payment use cases, including supplier payments, remittances, treasury management and mass disbursements.
Latin America leads early adoption
Latin America has emerged as a key early adopter of the network. Payments infrastructure provider Alfred Pay is already enabling fiat payouts in Brazil and Mexico, while digital wallet RedotPay is facilitating USDC-based flows into Brazil with plans to expand.
Additionally, cross-border platforms like Conduit and Tazapay are active, supporting transactions into Mexico and Asia, respectively.
This regional uptake reflects broader demand for dollar-backed stablecoin infrastructure outside the US, particularly in markets where access to US dollars is expensive, slow, or limited.
Circle emphasised the network will facilitate support to address these issues, specifically pertaining to speed, cost and transparency. According to the World Bank, international transfers can take over a day to settle and often carry fees exceeding 6%.
The launch follows months of collaboration with global financial institutions and fintech partners. Circle has named major banks including Banco Santander, Deutsche Bank, Société Générale and Standard Chartered as early contributors to the network’s development.
Fintech providers such as BCB Group, BVNK, Nuvei, OpenPayd and RD Technologies have also joined as design partners, focusing on integrating stablecoin payments with existing local financial systems.
A compliance-first payments network
Crypto payments have often been criticised by traditional financial institutions for being commonly used in criminal activities and lacking anti-money laundering (AML) and counter-terrorism financing (CFT) compliance.
Circle has stressed that CPN is held to the same compliance standards as traditional networks. This is achieved by requiring participants to meet strict eligibility standards, including licensing, AML/CFT compliance, financial risk management and cybersecurity protocols.
Circle stated this framework positions CPN as a “compliance-first” solution designed to meet the regulatory needs of banks and payment service providers, bridging the gap between blockchain payments and fiat payments.
Expansion plans for 2025
Looking ahead, Circle plans to expand the network throughout 2025. It has named the UK, Nigeria, India, the UAE, the Philippines and Argentina among its target markets.
A white paper published by Circle outlines CPN’s technical design, compliance framework, and how it can integrate with existing financial systems to further support global adoption.
