Stablecoin Giant Circle Launches New Payment and Remittance Network

Circle will unveil a new product for payments and cross-border money transfers at the company's headquarters in the World Trade Center on Tuesday, according to an invitation to the presentation.

Author: Ian Allison | Edited by: Nikhilesh De April 21, 2025, 7:30 AM

Oh, what do I know:

• Circle is launching its “next product move” from the company's New York headquarters.
• The launch event is targeted at banks, fintech companies, payment service providers, remittance service providers and USDC strategic partners.

Circle, the creator of the $60 billion USDC stablecoin, will unveil a new network for payments and cross-border remittances on Tuesday — the “next step in the company’s product strategy” — from its premium headquarters on the 87th floor of the World Trade Center in New York City.

The launch is aimed at banks, fintechs, payment providers, remittance providers, and USDC strategic partners. At the event, Circle CEO Jeremy Allaire will present his vision for the stablecoin giant’s next steps in the payments space, according to an invitation seen by CoinDesk.

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New and evolving regulations around the world are creating opportunities for stablecoins, where Circle competes with larger player Tether. In this context, it makes sense that Circle, a company that has successfully adapted to the crypto space over the years, is looking to strengthen its position and return to its roots as a payment provider.

“Circle is launching a payments network that will initially focus on money transfers but eventually plans to compete with giants like Mastercard and Visa,” said a source familiar with the plans.

According to a recent report from venture capital firm Andreessen Horowitz, stablecoins have reached such a level of adoption that the technology could change the global money transfer market in the same way WhatsApp changed international calls.

In a recent interview, cryptocurrency technology experts Fireblocks pointed to the billions being moved by payment service providers that process transactions using stablecoins like USDC and USDT.

Circle recently made headlines after announcing plans to hold an IPO in the US, but due to the volatile and uncertain market conditions, the IPO date was postponed.

Circle did not respond to requests for comment on the matter.

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