Circle Payments Network Mainnet Launches to Support $190T Stablecoin Payments

On May 21, Circle officially launched the Circle Payments Network (CPN) Mainnet. It is a significant move toward modernizing the infrastructure that develops global payments. The blockchain-powered network enables real-time stablecoin payments, with early participants settling transactions using USDC. The launch represents a major shift for institutional finance, as CPN seeks to replace outdated cross-border systems. This is done with blockchain-based rails that promise transparency, speed, and programmability.

Blockchain-Based Alternative to Legacy Payments

CPN is a compliance-first payments coordination protocol. It enables financial institutions to securely exchange payment instructions and settle transactions using USDC on public blockchains. The network addresses inefficiencies in global payments, where settlements often take days. It also tackles issues like idle capital and largely manual processes. Circle said, “Cross-border payments remain one of the most outdated segments of the financial system.” They added, “CPN introduces an always-on architecture for programmable, compliant, and fast settlement.” Unlike traditional payment systems, CPN offers real-time processing, visibility into transaction status via APIs and webhooks. It also offers programmable financial flows.

Multiple Use Cases and Market Demand

CPN supports a wide range of payment types, including B2B supplier transfers and recurring enterprise payments. This also supports payroll, treasury consolidation, and remittances. Financial institutions can join the network as Originating Financial Institutions (OFIs), and Beneficiary Financial Institutions (BFIs). Institutions may act as either OFIs, BFIs, or both, depending on their role in a transaction.

The demand for dollar-backed stablecoin payments is growing rapidly, particularly outside the United States. In regions where access to dollars is slow or expensive, USDC and similar stablecoins are becoming essential tools in regions with limited access to U.S. dollars. Circle’s data shows that USDC has already facilitated over $28 trillion in on-chain settlement volume. The majority of this volume has occurred in digital asset markets. The launch of CPN is aimed at bringing that scale to business and commercial use cases.

Early Participants Span Latin America and Asia

Several financial institutions are already operating on the CPN Mainnet. These include: Alfred Pay, operating in Brazil and Mexico, supports USDC off-ramps to local banking systems, PIX and SPEI. Tazapay, a cross-border B2B platform in Asia, facilitates fiat disbursements into Hong Kong. This is helping businesses settle payments from Latin America and North America. RedotPay, a digital wallet service, enables USDC payments into Brazil as part of its emerging markets strategy. Conduit, a global payments firm, converts fiat to USDC for B2B flows from the US and Europe into Mexico. These firms are building stablecoin payment corridors across underserved markets. 

Global Expansion Plans for 2025

With the Mainnet launch underway, Circle plans to expand the Circle Payments Network throughout 2025. Potential new markets include Nigeria, India, the UK, the European Union, Colombia, the UAE, China, Turkey, the Philippines, Vietnam, and Argentina. As regulatory clarity around digital assets improves, Circle expects broader institutional adoption. The company views CPN as a long-term upgrade to global financial infrastructure. Aligning traditional banking standards with blockchain technology. The launch of CPN marks a turning point in the evolution of cross-border payments.