Gate News announcement, April 9, Circle announced yesterday (April 8) that it would roll out a Circle Payments Network (CPN) custody payments solution, providing stablecoin settlement services for traditional financial institutions. The offering is designed for payment service providers, fintech companies, banks, and global enterprises. Its core feature is that participating institutions only need to interact with fiat currency, while Circle handles all crypto-rail operations in the backend, including the minting and burning of USDC, payment orchestration, compliance, and management of blockchain infrastructure. Use cases include cross-border settlement, merchants receiving stablecoin payments, batch payments, and reducing foreign exchange costs. The first batch of partner companies includes Thunes, Worldline, and the payments firm Veem. According to Visa and Allium data, USDC’s monthly transaction volume has already surpassed Tether USDT, the largest stablecoin by market value.
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