To advance its reach as a major stablecoin issuer, Circle has launched a new payments network to drive enhanced cross-border transactions.
Stablecoin issuer Circle has introduced a new global payments and cross-border remittance network. According to the invite for the event, the tool’s official launch took place on April 22, 2025, at the firm’s New York One World Trade Center headquarters. This move prioritizes Circle’s integration within the banking, fintech, and payment sectors.
Circle Plans to Challenge Visa and Mastercard
Circle’s vision is to leverage USDC’s utility and potentially challenge existing payment giants such as Visa and Mastercard. One part of the event featured Circle CEO and Co-founder Jeremy Allaire sharing his vision for the stablecoin giant’s next move within the payments space.
It is worth noting that the growing availability of crypto regulations worldwide, including the United States, has also impacted the stablecoin sector. With this new development, it is obvious that Circle is gradually returning to its roots as a payment platform. It intends to revolutionize the cross-border settlement niche, directly impacting traditional and digital financial services.
The focus on integrating with key strategic partners will push USDC towards global acceptance and usability. Allaire had earlier said that “Circle’s upcoming payment and remittance network cements its strategy to transform USDC into a foundational asset for global payments, aiming to compete directly with networks like Mastercard and Visa as stablecoin adoption accelerates.”
Based on the response that Circle has received from the broader crypto sector, it is clear that the new payment network is a welcome development.
Circle’s Rival, Tether, Pushes Beyond Payments
Tether, Circle’s rival stablecoin issuer, is investing its assets into other niches. Last year, it made its first foray into the oil industry with a $45 million deal for 670,00 barrels of crude oil.
The transaction was between Tether and a publicly traded major oil company that required Middle Eastern crude. The firm was expanding its services into global commodities trading.
Just a month ago, the USDT issuer increased its ownership of the Bitcoin mining company Bitdeer by 21%.
Notably, Tether’s first investment in Bitdeer was $100 million, which plunged in May 2024. The decision to increase its stake using its working capital increases Tether’s involvement in the Bitcoin mining sector and strengthens its position in the growing cryptocurrency market.
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