Circle Internet Group Inc., the issuer behind the world’s second-largest stablecoin, is reportedly preparing to unveil a new global payments network aimed at revolutionizing cross-border transactions. According to Bloomberg sources familiar with the matter, the network will leverage stablecoin technology to enable real-time settlement between financial institutions and fintech companies.
While still in the early stages and not publicly disclosed, the initiative—first reported by Coindesk—is expected to connect a wide range of participants in the financial ecosystem. These include payment processors, digital wallets, and banking app providers, with the goal of streamlining international money transfers through the use of blockchain-based stablecoins.
The Circle Payments Network is positioned as a direct challenge to the legacy correspondent banking system, which currently underpins most cross-border transactions. This traditional infrastructure often involves multiple intermediaries, leading to processing delays and increased fees.
Circle’s move highlights a broader trend within the financial industry, where both crypto-native firms and established institutions are increasingly turning to stablecoins to enhance speed, transparency, and cost efficiency in global money movement. If successful, the network could significantly reduce friction in cross-border finance and further cement the role of stablecoins in mainstream financial operations.
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