KEY TAKEAWAYS
- Circle Payments Network (CPN) is transforming cross-border payments by using stablecoins like USDC and EURC to streamline international transactions.
- CPN’s integration with Brazil’s Pix system allows for near real-time conversion of USDC to Brazilian Real, enhancing the efficiency of Brazil’s $6 billion inbound-remittance market.
- Tazapay leverages CPN to facilitate seamless B2B transactions in the Asia-Pacific region, converting USDC to local currencies with speed and transparency.
- CPN’s partnerships with Alfred and Tazapay highlight its potential to revolutionize global commerce by simplifying cross-border payments.
Circle Payments Network (CPN) is revolutionizing the cross-border payments landscape by leveraging stablecoins like USDC and EURC. Designed to streamline the $194 trillion cross-border payments market, CPN offers a compliance-first framework that simplifies international transactions for financial institutions, including banks, payment service providers, neobanks, and virtual asset service providers.
CPN enables secure, fast, and cost-effective international payments by utilizing a global-stablecoin infrastructure. This approach eliminates the need for partner companies to establish bilateral relationships in every market. The network is now operational across major corridors in Latin America and Asia-Pacific, with fully integrated partners Alfred and Tazapay demonstrating the potential of regulated stablecoins in global commerce.
Brazil Expands Payment Capabilities
Alfred, a financial technology company, has expanded its reach in Brazil as an early adopter of CPN. By integrating with Pix, Brazil’s instant payments system, Alfred facilitates cross-border flows into Brazil’s economy. Pix, launched in 2020, has transformed domestic payments with near-instant transfer times and 24/7 availability.
Through CPN, Alfred enables USDC payments to be converted to Brazilian Real (BRL) and paid out via Pix in near real-time. This integration reduces settlement delays and foreign exchange conversion issues, benefiting Brazilian businesses reliant on incoming USD flows. The impact extends to Brazil’s $6 billion inbound-remittance market, offering faster payouts and fewer deductions for recipients.
Tazapay Enhances Asia-Pacific Transactions
Tazapay, a fintech company focused on cross-border payments, connects global businesses to Hong Kong markets through CPN. Hong Kong, a duty-free hub, handled approximately $527 billion in re-exports in 2023. Many small and medium enterprises (SMEs) in the region face challenges with correspondent banks, leading to fees and delays.
As a Beneficiary Financial Institution in CPN, Tazapay streamlines international B2B transactions by converting USDC to local fiat currencies with speed and transparency. This allows merchants in the Asia-Pacific region to manage cross-border payouts with ease, similar to domestic transfers. CPN’s compliance workflows further enhance Tazapay’s global reach.
With the onboarding of Alfred and Tazapay, CPN is already processing transactions and delivering results for partner businesses. The network’s integration with Brazil’s Pix infrastructure and Tazapay’s operations in Asia-Pacific demonstrate CPN’s potential to transform cross-border payments.
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Why This Matters: Impact, Industry Trends & Expert Insights
The Circle Payments Network (CPN) is enhancing cross-border transactions by partnering with Alfred and Tazapay to leverage stablecoins for streamlined payments across Latin America and Asia-Pacific.
A recent FXC Intelligence report highlights that stablecoins are transforming the landscape of cross-border payments by offering faster, more cost-efficient transactions. This aligns with CPN’s strategy to utilize stablecoins like USDC to simplify international transactions, reducing the need for multiple bilateral relationships.
As per insights from Deloitte, stablecoins are increasingly being integrated into mainstream financial systems, driven by advances in regulatory frameworks and technological advancements. This supports CPN’s compliance-first approach, enhancing the network’s potential to transform cross-border payments.
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