Circle, the issuer of the second-largest stablecoin USDC, is launching the Circle Payments Network (CPN), a new global payments and cross-border remittance network. The network aims to provide an alternative to traditional payment giants like Visa and Mastercard, targeting banks, fintech companies, and payment service providers. CPN will enable real-time, 24/7 settlement of cross-border transactions using stablecoins such as USDC and EURC, starting in May. The network is designed to be semi-permissioned, with a single API for financial institutions to send and receive transactions, and features an RFQ system for foreign exchange, cross-chain interoperability via CCTP, and confidential transactions. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
