Circle (USDC) Launches Global Payment Network, Ready to Rival Visa and Mastercard?

Jakarta, Pintu News – Circle Internet Financial recently announced the launch of the Circle Payment Network (CPN), a blockchain-based platform that connects global financial institutions.

By collaborating with major banks such as BNY, Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered Bank, CPN is expected to change the way money is transferred across countries.

CPN Launch: Circle’s Big Move

Circle, known for its $60 billion stablecoin US Dollar Coin (USDC), has introduced CPN as part of a strategy to expand its dominance in the stablecoin market.

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Jeremy Allaire, CEO of Circle, stated that the company’s vision is to make money transfers as efficient as sending an email. CPN, which supports Ethereum (ETH) and Avalanche (AVAX) blockchain technology, offers real-time settlement of transactions, which is a major breakthrough over traditional payment systems such as SWIFT.

CPN not only increases efficiency but also reduces transaction costs, making it a more attractive option for financial institutions and global businesses.

With its programmable infrastructure, CPN enables the integration of transfer value into modern financial applications, opening up new possibilities that were previously not possible.

CPN vs Ripple: Competition in the Global Payment Market

The launch of CPN marks a major step for Circle in competing in the global payments market, specifically against Ripple Payments who have already come up with their On-Demand Liquidity (ODL) product.

Ripple, which runs on the Ripple Ledger (XRP), has long been known for its ability to process international transactions at a low cost.

However, with CPN, Circle offers an alternative that relies on stablecoins like USDC and Euro Coin (EURC) for settlement, which can reduce traditional barriers in cross-border payments.

Circle has garnered a number of design partners for CPN, including Flutterwave and CoinMENA, demonstrating the market’s high confidence in the new platform.

With the support of several leading banks as advisors, CPN is expected to take market share from Ripple in the coming months.

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Future Prospects of CPN and its Impact on the Stablecoin Market

With the launch of CPN, Circle has ambitions to not only compete with traditional payment systems such as Visa and Mastercard but also to increase USDC’s dominance in the stablecoin market.

Currently, USDC has a market capitalization of about $60.9 billion with a 24-hour average trading volume of about $7.6 billion. With features such as near-instant settlement and lower transaction fees, CPN has the potential to attract more users to the USDC ecosystem.

Moreover, with regulations increasingly favoring the use of stablecoins in various countries, CPN has the opportunity to grow faster and secure a stronger position in the global financial industry. This will help Circle maintain its relevance in a highly competitive and ever-changing market.

Overall, with the launch of the Circle Payment Network, the global financial world is likely to witness a major shift in the way institutions and individuals conduct cross-border transactions.

This innovation not only promises efficiency but also opens up new opportunities in the ever-evolving digital economy.

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Reference:

• CoinGape. Circle Launches Payments Network to Compete with Ripple. Accessed on April 22, 2025
• Coinpedia. Circle Payments Network Unveiled – Here is What You Need to Know. Accessed on April 22, 2025
• The News Crypto. Circle to Launch Global Payments Network, Eyes Cross-Border Remittances. Accessed on April 22, 2025