Circle is launching a new product, CPN Custodial Payments, allowing financial institutions to join and operate on CPN.

BlockBeats News, April 9th, according to official sources, this morning Circle announced the launch of a new product, CPN Managed Payments. As Circle continues to expand stablecoin payments and witnesses rapid growth on the CPN platform, Circle has found that banks, payment service providers (PSPs), fintech companies, and large tech firms urgently need a solution that enables them to facilitate fiat-to-fiat and fiat-to-stablecoin payment flows without having to build and operate wallets and blockchain infrastructure themselves, without directly managing digital assets and stablecoins (such as minting, custody, etc.), and without independently assuming the licensing and compliance requirements necessary to use stablecoins and blockchain for payments.

Managed Payments allow financial institutions to join and operate on CPN, while Circle handles the rest, leveraging Circle's experience operating the world's most widely adopted, compliant, and regulated digital currency payment infrastructure for over a decade. CPN Managed Payments will significantly expand Circle's CPN product and is expected to accelerate global financial institution adoption.

NOTE: Circle Payments Network (CPN) refers to the Circle Payment Network.