New Circle system aims to speed up global money transfers

The issuer of the world’s second-largest stablecoin plans a global solution to facilitate real-time settlement between financial institutions.

Circle is building a payment network to support instant cross-border transfers using stablecoins, connecting banks, wallets, and financial technology firms globally.

Circle Internet Group is developing a new global payment network. The company, known for issuing the second-largest stablecoin, aims to facilitate seamless cross-border transfers. However, the project will rely on stablecoins to enable real-time international settlement.

The planned network will connect banks, digital wallet providers, and financial technology firms, allowing instant movement of funds across borders.

Circle aims to improve the efficiency of international payments while reducing associated costs.

There is growing interest in stablecoin infrastructure from both cryptocurrency-focused and traditional financial institutions. Circle’s initiative signals the expanding role of digital assets in modernising global finance.

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