Circle Launches USDC-Powered Payments Network to Compete with Visa and Mastercard
- Circle launches payments network with stablecoin USDC
- New platform targets competition from Visa and Mastercard
- Stablecoins grow and consolidate in global finance
Circle, issuer of the USDC stablecoin, prepares launch of a new payments network focused on international transfers, with an initial focus on remittances. The initiative seeks to establish the company as a real alternative to traditional financial sector giants such as Visa and Mastercard.
The platform launch event will take place on April 22 at Circle’s headquarters, located on the 87th floor of the World Trade Center in New York City. At the event, CEO Jeremy Allaire will share the company’s strategic vision for the future of stablecoin payments.
According to sources close to the project, the new network is aimed at banks, remittance companies, fintechs and strategic partners of USDC. The proposal is to integrate stablecoins into the global financial system, facilitating international transactions with fewer intermediaries, greater speed and lower costs.
USDC is currently the second-largest stablecoin on the market, with a market cap of around $60 billion, behind only Tether's USDT, which leads with $144 billion. Both are among the most widely used digital assets in the world, especially in cross-platform transfers and trading.
Since the creation of USDC in 2018 — a collaboration between Circle and exchange Coinbase through the Centre Consortium — the stablecoin has established itself as a key player in the cryptocurrency ecosystem. The dissolution of the consortium subsequently left Circle as the exclusive operator of USDC.
In Europe, on the other hand, concerns are growing about the dominance of dollar-pegged stablecoins. Of the major stablecoins in existence, more than $220 billion are pegged to the US dollar, raising concerns about possible capital flight from the traditional banking system.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pi Coin Crash Sparks Debate Over Core Team’s Transparency
GROK now supports generating charts on the web
The world's first computing satellite named BAYC was successfully launched
ETH breaks through $2,500
Trending news
MoreCrypto prices
More








