According to Decrypt, Circle has launched an infrastructure platform designed to instantly transfer funds around the clock by allowing banks and financial institutions to use fully reserved digital dollar (USDC) and euro (EURC) to enable cross-border payments. The Circle payment network (CPN) will allow banks and financial institutions to enable 24/7 instant money transfers using stablecoins such as USDC and EURC. The network is designed to support invoice payments, remittances, financial services, payroll, and contractor payments. More than 20 design partners have already participated, including dLocal, WorldRemit, BVNK, Yellow Card and Coins.ph, indicating that the platform will focus on institutions operating in emerging markets and bulk remittance channels.
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