Circle Launches CPN Mainnet for Real-Time Stablecoin Payments

Circle has launched the Circle Payments Network (CPN) Mainnet, a significant development aimed at modernizing the infrastructure for global payments. The blockchain-powered network facilitates real-time stablecoin payments, with early participants settling transactions using USDC. This move is poised to revolutionize the $190 trillion cross-border market by replacing outdated systems with blockchain-based rails that offer transparency, speed, and programmability.

CPN is designed as a compliance-first payments coordination protocol, enabling financial institutions to securely exchange payment instructions and settle transactions using USDC on public blockchains. This addresses long-standing inefficiencies in global payments, where settlements often take days and involve idle capital and largely manual processes. Circle emphasizes that cross-border payments are one of the most outdated segments of the financial system, and CPN introduces an always-on architecture for programmable, compliant, and fast settlement.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, and programmable financial flows.

The network supports a wide range of payment types, including B2B supplier transfers, recurring enterprise payments, payroll, treasury consolidation, and remittances. Financial institutions can join the network as Originating Financial Institutions (OFIs) or Beneficiary Financial Institutions (BFIs), depending on their role in a transaction. The demand for dollar-backed stablecoin payments is growing rapidly, particularly in regions where access to dollars is slow or expensive. Circle’s data indicates that USDC has already facilitated over $28 trillion in on-chain settlement volume, with the majority occurring in digital asset markets. The launch of CPN aims to bring that scale to business and commercial use cases.

Several financial institutions are already operating on the CPN Mainnet. These include Alfred Pay, which supports USDC off-ramps to local banking systems in Brazil and Mexico; Tazapay, a cross-border B2B platform in Asia that facilitates fiat disbursements; RedotPay, a digital wallet service enabling USDC payments into Brazil; and Conduit, a global payments firm converting fiat to USDC for B2B flows. These firms are building stablecoin payment corridors across underserved markets, demonstrating the practical applications and benefits of CPN.

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, promising a more efficient and transparent future for global financial transactions.