Circle Launches CPN: A Game-Changer for African Cross-Border Payments
Circle has launched the Circle Payments Network (CPN), a groundbreaking stablecoin platform set to transform cross-border transactions, particularly in Africa. This comes as stablecoins gain traction for international transfers, with a staggering $30 billion surge in supply during Q1 2025.
CPN, powered by smart contracts and modular APIs, allows developers to create advanced financial tools. Flutterwave, a leading African fintech, hails CPN as the world's largest and most widely-used stablecoin network. Circle has partnered with prominent African operators like Flutterwave, Onafriq, and Yellow Card to bring CPN to the continent.
CPN supports diverse cross-border money movement needs, from supplier payments and remittances to capital markets settlement. It aims to unify disparate payment networks and local currencies, enabling real-time, 24/7 settlement using stablecoins like $USDC and $EURC. Kraken, a global crypto leader, has joined forces with Circle to expand USDC and EURC access and deepen stablecoin integration on its platform.
CPN's launch signals a new era for cross-border payments, offering real-time settlement and seamless connectivity to domestic payment systems worldwide. With Circle's strategic partnerships in Africa, CPN is poised to revolutionize international transactions, making them faster, cheaper, and more accessible.
