The Circle Payments Network (CPN) mainnet is officially live. Learn about CPN and how it advances global mainstream stablecoin payments.
Today marks an important milestone not just for Circle and the broader USDC ecosystem, but for the rapidly accelerating future of mainstream stablecoin payments. We are proud to announce that the Circle Payments Network (CPN) mainnet is officially live, with a growing roster of financial institutions now moving value globally using this new network and coordination protocol.
CPN is purpose-built to unlock the full potential of stablecoins for mainstream cross-border payments—a $190 trillion market that still depends heavily on fragmented, slow, opaque, and manual infrastructure designed in the pre-internet era. CPN delivers a significant software upgrade for global payments—creating value for financial institutions and their business and retail customers, while enabling innovation to flourish.
A Blockchain-Powered Payments Coordination Protocol
At its core, CPN is a sophisticated compliance-first payments coordination protocol. It enables financial institutions to exchange payment instructions securely and reliably, while settling transactions on open, public blockchains with near-instant finality.
The architecture behind CPN is unique: it fuses the reliability and established standards of traditional payment systems with the openness, speed, and resilience of blockchain rails. Since 2018, USDC has facilitated more than $28 trillion* in on-chain settlement volume, predominantly in always-on digital asset markets where speed, interoperability, and global access are table stakes.
CPN builds on this foundation to bring the benefits of blockchain settlement into the world of global commercial payments.
Solving Real-World Payment Challenges
CPN was designed to make it easier for financial institutions to move money globally—whether for their own treasury operations or on behalf of their business and consumer clients.
It supports a wide range of payment use cases, including:
- B2B supplier payments
- Cross-border remittances
- Treasury and global cash consolidations
- Recurring enterprise payments, including subscriptions
- Payroll and mass disbursements
Participants in the network can enroll as Originating Financial Institutions (OFIs), Beneficiary Financial Institutions (BFIs), or both, depending on the role they seek to play in an end-to-end transaction.
Importantly, much of the demand for dollar-backed stablecoins originates outside the United States. In many of these markets, access to fiat dollars is expensive, slow, and capital-inefficient, even though the dollar remains central to international trade. Many of CPN’s early adopters are addressing precisely this challenge by focusing on high-value global trade corridors that are dollar-reliant and underserved by traditional payment systems.
CPN Mainnet Participants: Opening Stablecoin Payment Corridors
Several financial institutions are already operating on the CPN mainnet today, with more in the pipeline. Here is a look at several active partners.
Alfred Pay
Alfred Pay provides payments infrastructure in Latin America, with strong capabilities in Brazil and Mexico. As a BFI on CPN, Alfred enables stablecoin-to-fiat off-ramps via PIX and SPEI, unlocking real-time payouts for remittances and supplier payments in high-demand corridors.
Tazapay
Tazapay is a cross-border payments platform enabling B2B trade across Asia by streamlining global collections, invoicing, and local currency payouts. As a licensed Beneficiary Financial Institution (BFI) in the Circle Payments Network (CPN), Tazapay supports compliant fiat disbursements into Hong Kong. This integration allows businesses in Latin America and North America to settle cross-border payments into Asia with speed, transparency, and 24/7 reliability—powered by stablecoin infrastructure and local market expertise.
RedotPay
RedotPay is a digital wallet and cross-border payment platform with a vision to support payment infrastructure in emerging markets. As an OFI on CPN, RedotPay initiates USDC-based payments into Brazil with additional countries still to come, powering cross-border payment flows through crypto-funded rails that bypass slow and expensive traditional systems.
Conduit
Conduit is a global B2B cross-border payments platform that enables businesses to use local payment methods to send global payouts directly into bank accounts in the US, China, Latin America, Africa, and beyond. As on OFI on CPN, Conduit on-ramps fiat into USDC in the US and Europe, supporting B2B flows into Mexico.
Toward a New Era in Global Digital Payments
The launch of CPN represents a leap forward for global payments infrastructure toward an architecture where interoperability, compliance, speed, and cost-efficiency are emphasized. We are just getting started. As more institutions integrate with CPN, we look forward to powering new use cases, and advancing this new standard for global value exchange.
Throughout 2025, we will continue to explore and focus on providers who can serve additional markets that could potentially include Nigeria, the European Union, the United Kingdom, Colombia, India, the United Arab Emirates, China, Turkey, the Philippines, Vietnam, and Argentina.
If you are interested in exploring CPN, we invite you to get in touch with us as we bring stablecoin-powered payments into the mainstream.
*As of May 21, 2025
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.
This blog contains forward-looking statements, including statements regarding potential market expansion and future product development. These statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially from those anticipated due to a variety of factors, including market conditions, competitive pressures, and regulatory developments. We undertake no obligation to update these forward-looking statements.
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