Circle launches stablecoin settlement solution, targeting traditional financial institutions

According to ChainCatcher, Circle announced yesterday the launch of the Circle Payments Network (CPN) custodial payment solution, providing stablecoin settlement services for traditional financial institutions. This solution targets payment service providers, fintech companies, banks, and global enterprises, and its core selling point lies in operation simplification: participating institutions only need to interact using fiat currency, while Circle handles all crypto operations on the backend, including minting and burning USDC, payment processing, compliance, and blockchain infrastructure.