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Circle Launches Payments Network to Rival Ripple’s ODL

Solomon M. by Solomon M.
April 22, 2025
in Altcoin News
bank reps oil painting scene
Key Points:
  • Circle announces new payments network led by CEO Jeremy Allaire.
  • Partnerships with global banks boost its launch potential.
  • No immediate impact on stablecoin prices observed.
circle-launches-payments-network-to-rival-ripples-odl
Circle Launches Payments Network to Rival Ripple’s ODL

Circle has announced its new payments network on April 21, 2025, led by Co-Founder and CEO Jeremy Allaire. This launch targets global institutions through partnerships with major banks like Standard Chartered and Deutsche Bank, aiming to compete with Ripple’s offerings.

Circle’s new payments network aims to enhance cross-border financial transactions, targeting institutional clients with stablecoins like USDC and EURC. Major banks collaborating with Circle, such as Standard Chartered and Deutsche Bank, enhance its global reach and credibility.

“Since our founding, Circle’s vision has been to make moving money as simple and efficient as sending an email. CPN brings that vision closer to reality by enabling real-time, compliant value transfer between trusted institutions worldwide.” — Jeremy Allaire, Co-Founder & CEO, Circle

Circle unveiled its payments network in collaboration with banks such as Standard Chartered and Deutsche Bank, targeting enhanced programmable finance. The launch focuses on institutional-grade compliance and real-time payment capabilities, challenging Ripple’s On-Demand Liquidity platform.

The network’s launch signifies an important advance in cross-border payments, particularly in the stablecoin market. Key participants’ involvement signifies increased trust and potential shifts in transaction norms among financial institutions seeking efficient and secure transaction methods. Its impact on cryptocurrency prices remains minimal due to its stablecoin basis, keeping values near their pegs. At this time, no significant price changes are observed.

Circle’s approach may shape regulatory strategies around digital assets, impacting stablecoin adoption and institutional engagement. The technology underlying Circle’s network could lead to broader regulatory acceptance and facilitate financial industry transformation.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

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