Circle Teams Up With Global Banks to Challenge SWIFT With New Crypto Network

Circle Internet Financial has officially launched the Circle Payments Network (CPN), a blockchain-based settlement platform, collaborating with some of the world’s leading banks. The move positions Circle as a direct challenger to legacy cross-border systems like SWIFT.

Circle has established strategic partnerships with financial establishments BNY Mellon, Banco Santander, Deutsche Bank Société Générale, and Standard Chartered. Multiple financial institutions join forces with Circle to support network integration and expansion.

Blockchain infrastructure transactions happen in real-time through the CPN while operating on Ethereum and Avalanche. Faster cross-border transfers become accessible by implementing USDC and EURC stablecoins under regulatory oversight and providing cheaper and more transparent services than traditional wire transfers.

Also Read: Circle’s IPO Filing Uncovers Unexpected Winner in USDC Profits Amid Rising Competition

Global Financial Institutions Back Circle’s Blockchain Push

According to Circle executives, CPN is designed to simplify value transfer between financial entities by embedding programmable infrastructure into financial applications. This allows businesses to operate 24/7, unlike traditional banking systems, which are limited by operating hours.

The network already includes a broad lineup of fintech and payment companies actively using the platform. Real-time settlement through CPN operates through several payment organizations, such as BCB Group, Flutterwave, and Coins.ph, Conduit, dLocal, dtcpay, Triple-A, CoinMENA, BVNK, and Yellow Card.

Jeremy Allaire from Circle emphasized that CPN functions as a fundamental building block to modernize money movement between systems at an international level. He declared that the goal should be to achieve money transfer efficiency at the same level as email communication.

According to Nikhil Chandhok, the chief product and technology officer, CPN represents a fundamental framework that supports the development of an uninterrupted financial operating system. Through this technology, cross-border value transmissions occur immediately between institutions that maintain regulatory status.

The stablecoin USDC from Circle has a market cap of $60.9 billion and achieves daily transactions worth $7.6 billion. The implementation of CPN enables Circle to extend USDC use across global transactions while competing with Tether’s USDT footprint.

Conclusion

By aligning with global banks and introducing a faster settlement system, Circle’s new payments network directly challenges SWIFT. The launch of CPN signals a broader transformation in international finance through blockchain-based solutions.

Also Read: What Is Happening in Crypto Today: Circle IPO Plans Advance, Ethereum Blob Fees Drop, Binance Delists USDT, and Trump’s Tariff Talk Sparks Bitcoin Volatility

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