Circle Payments Network (CPN) connects financial institutions globally to streamline cross-border payments, enabling 24/7 real-time settlement using stablecoins like USDC and EURC. It facilitates fast, compliant transactions — eliminating bilateral agreements and settlement delays that create friction in current cross-border payment flows.

CPN is designed for banks, neobanks, payment service providers (PSPs), remittance businesses, and virtual asset service providers (VASPs) seeking a faster, more efficient way to coordinate money movement worldwide — particularly in emerging markets.

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CPN connects financial institutions for cross-border money movement using stablecoins. The Originating Financial Institution (OFI) collects funds from the sender in local currency, converts them to stablecoins, and sends them to the Beneficiary Financial Institution (BFI), which pays out the receiver in their currency. CPN matches, smart routes, and facilitates compliance and stablecoin settlement between institutions.

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CPN is operated by Circle Technology Services, LLC (CTS), an affiliate of Circle, the global leader in regulated stablecoins, fostering compliance, security, and transparency. Only eligible members can transact on the network, adhering to stringent licensing, financial crimes compliance, security, financial and operational requirements.

To support the development of CPN with high standards of trust and operational integrity, Circle is working closely with leading global banking institutions that contribute deep expertise in payments and regulatory infrastructure.

No, CPN isn’t a money transmitter and doesn’t move funds directly. Instead, it serves as a marketplace for financial institutions to facilitate global money movement.

Circle acts as the governing and standard-setting body for CPN and serves as the network operator. In such capacity, Circle isn’t a money transmitter and doesn’t move funds directly. Here’s what that means:

• Définition des règles : Circle établit les Règles du Circle Payments Network (Règles du CPN), qui déterminent les conditions de participation et le fonctionnement du réseau, et assure sa gestion.‍
• Defining the protocol: Circle defines the CPN protocol and provides developer APIs, helping financial institutions connect easily and securely within the network.

Built on open, public blockchain infrastructure, CPN provides a powerful foundation for developers to build onchain applications that use these networks to move money seamlessly.

CPN is chain-agnostic and built for multichain flexibility. At launch, CPN is live on Ethereum, Solana, and all EVM-compatible chains. Each financial institution selects the blockchain(s) they operate on, based on their internal risk, compliance, operational, and security requirements. Circle works closely with members to support their chosen chain and facilitate smooth integration.

While the network is currency-agnostic, USDC and EURC will be used for settlement at launch. Additional regulated stablecoins may be enabled post-launch. Fiat currencies are managed by OFIs and BFIs, so CPN supports any fiat currency they operate in.

Only financial institutions that meet CPN’s eligibility requirements can join and transact. Eligibility reviews are tailored to each jurisdiction’s regulatory oversight. Additionally, CPN includes built-in features to enhance compliance and risk transparency:

• Travel Rule: Enforced in accordance with FATF guidelines.
• Règles opérationnelles : le Trust Engine du CPN permet aux membres du réseau de définir et d’appliquer des critères personnalisés pour les transactions et les contreparties, en fonction de leur appétence au risque, de leurs politiques et de leurs obligations réglementaires.
• Member Operational Support: CPN provides well-defined operational guidelines, including service-level agreements (SLAs) as defined in the CPN Rules, that include expectations for uptime, transaction speed, dispute resolution, and timely information sharing.

Only financial institutions that meet CPN’s eligibility requirements can join and transact. Eligibility reviews are tailored to each jurisdiction’s regulatory oversight. Additionally, CPN includes built-in features to enhance compliance and risk transparency:

• Travel Rule: Enforced in accordance with FATF guidelines.
• Operational Rules: CPN’s Trust Engine enables network members to define and enforce tailored criteria for transactions and counterparties, aligning with their risk appetite, business policies, and regulatory obligations.‍
• Member Operational Support: CPN provides well-defined operational guidelines, including service-level agreements (SLAs) as defined in the CPN Rules, that include expectations for uptime, transaction speed, dispute resolution, and timely information sharing.

Transactions processed through CPN incur three primary fees to OFIs: Payout Fees, which compensate BFIs for local fiat disbursement and processing; FX Spreads, reflecting liquidity risk and conversion costs; and CPN Network Fee — a variable basis-point charge, tiered by country group — to support core network functions including compliance, security, infrastructure, and development.