- This here Circle Payments Network is hitchin’ its wagon to fancy stablecoins like USDC and EURC, all proper and regulated, mind you.
- It promises to rope in global banks and those newfangled VASPs, aiming to outpace that old mule-drawn SWIFT system.
Circle Internet Financial, the big cheese in stablecoin country, done gone and announced they’re launching the Circle Payments Network (CPN)—a blockchain-powered contraption designed to yoke together global financial varmints. They’ve teamed up with some mighty big shots like BNY, Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered, so you know this ain’t no pie-in-the-sky scheme.
Right outta the gate, the CPN’s already lined up partners from all corners of the earth — folks like BCB Group, BVNK, CoinMENA, Coins.ph, and a whole mess of others who sound like they belong in a secret society.
“Since we first lit the fire, Circle’s dream has been to make sending money as easy as shooting off an email to Aunt Sally. This CPN thing is a big stride toward making that dream come true for businesses everywhere,” said Jeremy Allaire, Circle’s head honcho. (I reckon he’s dreaming of a world where your money dances faster than a frog on a hot skillet.) 🤠💸
How the Circle Payment Network is Fixing to Shake Up the Market
The launch of CPN ain’t just for show—it’s a strategic move to make Circle a top dog in the whoopee of stablecoins, fighting off some stiff competition. They’re promising real-time settlements by leaning on those fancy regulated stablecoins like USDC and EURC.
“The Circle Payments Network is the foundation for what we call the ‘always-on economy’—letin’ trusted folks move money across borders quicker than a jackrabbit on a date. With programmable wizardry at its heart, CPN lets modern finance apps do tricks we only dreamed of before,” said Nikhil Chandhok, the ringmaster of product and tech at Circle.
CPN aims to kick the old-timer SWIFT system right off its porch by making global money transfers cheaper and slicker using blockchain technologies like Ethereum and Avalanche. It’s kind of like trading a horse-drawn carriage for a shiny new automobile.
If this thing takes off, USDC might just catch up to that behemoth Tether USDT. At this writing, USDC holds its ground with a market cap near $60.9 billion and is keepin’ busy with $7.6 billion trading every 24 hours—enough dough to make a banker smile wide enough to show the whole ledger. 🤑
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2025-04-22 01:27