Circle is planning to launch an international payments network that will allow large corporations to complete settlements via stablecoins. The issuer of the USDC stablecoin released a whitepaper this week detailing possible ways in which stablecoins can upgrade the global payment systems. This system is dubbed the Circle Payments Network (CPN). It has been designed to function as a protocol layer within a digital settlement system with support for stablecoins like USDC, EURC, and more in the future.With the CPN, Circle aims to offer a cross-border payment solution that is cost effective, swift, compliant, and transparent. It could be of significant help to global suppliers, small merchants, content creators, and remittance recipients.“CPN is transparent, secure, scalable infrastructure for financial institutions. Circle has built a rigorous governance framework for CPN that requires participating financial institutions to meet global Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) standards, along with economic sanctions requirements,” the US-based company said in its whitepaper.The system will offer billing services, credit services, compliance services, risk and fraud services, as well as liquidity services.For institutional payments, the network will introduce forex settlements, treasury services, government payouts, and DeFi services. Whereas for consumer payments, the network will entail micropayments, remittances, e-commerce, and subscription services.The network will support multi-chain infrastructures and will enable companies to process salary payments around the globe instantly, at low costs.“Crucially, CPN serves as the foundation for an ecosystem that eliminates many of the technical complexities and operational hurdles that have slowed mainstream stablecoin adoption to date, including the need for businesses to custody their own stablecoins,” the company noted.Circle intends to add AI capabilities to the CPN in the future to automate financial settlements.This development comes at a time when Circle is planning to launch its IPO in the US. If approved, Circle's stocks will be listed on the New York Stock Exchange (NYSE) as “CRCL”. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube. Further reading: Cryptocurrency, Circle, Stablecoin, USDC, CPN, Circle Payments Network  Radhika Parashar Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More Related Stories