See how Circle Payments Network is providing a global marketplace for stablecoin payments via institutional collaboration and strict compliance standards.
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Global payments require more than just speed—they demand trust, security, and robust governance. As Circle builds the infrastructure to scale global stablecoin payments for mainstream use cases, we are designing Circle Payments Network (CPN) on a strong foundation of institutional collaboration, rigorous compliance standards, clear operational accountability, and transparency.
The governance structure of CPN shows how we are delivering on this promise. CPN builds on open, public networks by adding a purpose-built coordination protocol tailored to the needs of banks, financial services providers, and other regulated entities.
Read the CPN White Paper >
Become a CPN partner >
Stablecoin Payments for Financial Institutions
CPN is a permissioned, blockchain-based network where every participant is a known, vetted, and duly licensed financial institution. Commercial banks, neobanks, payment processors, and fintech providers must meet strict entry criteria before gaining access to the network. These include:
- Holding the applicable regulatory licensure in their operating jurisdiction
- Complying with Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and sanctions standards
- Demonstrating strong operational and cybersecurity controls, along with sufficient financial strength
This model ensures participants have access to trustworthy counterparties while retaining direct control over customer funds and local disbursement operations.
Circle’s Role in Enabling Trusted Stablecoin Payments
Circle operates CPN as its primary governing body and is responsible for defining technical and operational standards. Other Circle responsibilities include:
- Managing network policies and rules
- Providing critical infrastructure and support
- Maintaining a secure and resilient environment
Importantly, Circle does not hold customer funds or act as a custodian. Instead, we act as an orchestrator and enables financial institutions to directly and transparently interact with one another onchain using payment stablecoins like USDC, EURC, and eventually other payment stablecoins.
This separation means that institutions who participate in CPN can retain full responsibility for fiat-to-stablecoin conversion, customer relationships, and regulatory compliance, while benefiting from shared infrastructure for messaging, routing, and onchain settlement.
Governance Framework
CPN’s governance structure reflects Circle’s commitment to strong standards for trust and operational resilience. The framework includes:
Eligibility reviews and oversight: Circle serves as the primary governing body, responsible for setting stringent eligibility standards as detailed in the Circle Payments Network Rules, and facilitating the integration of regulated payment stablecoins into the network.
Network functionality and operations: Core CPN functionality enables seamless, compliant transactions, but also provides operational rigor, and ongoing improvement.
Transparency and stakeholder engagement: By actively engaging diverse stakeholders — including financial institutions, regulators, businesses, and builders — CPN aligns with global standards to foster trust, accelerate adoption, and promote sustainable network ecosystem growth.
Where CPN Sits in the Payments Landscape
Legacy payments infrastructure is often fragmented, opaque, slow, and reliant on informal correspondent relationships. In contrast, CPN offers a transparent, rule-based stablecoin payment alternative where compliance, control, and connectivity are built into the network’s DNA.
This approach empowers institutions to modernize cross-border payments while aligning with regulatory expectations in key markets. It also sets a precedent for how financial institutions can achieve the security and trust needed to unlock the benefits of blockchain.
Grow With Us
Circle believes that infrastructure matters—and that governance is not an afterthought, but a foundational element of trust. As the Circle Payments Network continues to grow, its stakeholder model and operational discipline will remain essential to building a more open, efficient, and inclusive financial system.
Stay tuned as we introduce additional CPN partners in the lead-up to mainnet launch on May 21, and get in touch with us if you would like to become a partner.
Circle Technology Services, LLC (CTS) is the operator of Circle Payments Network (CPN) and offers products and services to financial institutions that participate in CPN to facilitate their CPN access and integration. CPN connects participating financial institutions around the world, with CTS serving as the technology service provider to participating financial institutions. While CTS does not hold funds or manage accounts on behalf of customers, we enable the global ecosystem of participating financial institutions to connect directly with each other, communicate securely, and settle directly with each other. CTS is not a party to transactions between participating financial institutions facilitated by CPN who use CPN to execute transactions at their own risk. Use of CPN is subject to the CPN Rules and the CPN Participation Agreement between CTS and a participating financial institution.
