Circle, a financial technology company, has launched its new payments network, Circle Payments Network (CPN), aiming to enhance global transactions and potentially challenge the existing landscape dominated by Ripple. This strategic move involves partnerships with major banks worldwide to facilitate real-time value transfers using regulated stablecoins like USDC and EURC. The launch reflects Circle’s long-standing vision of streamlining financial transactions, as CEO Jeremy Allaire emphasizes in a statement. CPN aims to connect trusted institutions globally and potentially disrupt traditional cross-border payment systems currently managed by platforms like RippleNet. While the announcement did not cause significant price fluctuations in Bitcoin (BTC), Ethereum (ETH) or USDC, it does signal potential market competition for the remittance and international payments sector.