<ul><li>Circle has announced the launch of the Circle Payments Network (CPN), setting up a direct competition with Ripple's payments product.</li><li>CPN is described as a streamlined way for financial institutions to connect, using stablecoins like USDC and EURC for real-time settlement in areas such as invoice settlement, remittances, treasury flows, and payroll.</li><li>Circle, known for issuing the second-largest dollar stablecoin, takes on the role of operator and compliance gatekeeper in the CPN network, with strict licensing and AML/CFT criteria for participating entities.</li><li>The move puts Circle in direct competition with Ripple, targeting similar use cases with a different approach using stablecoins, which is seen as more compatible with existing financial institutions' business models.</li></ul>

Ripple Faces Major Challenger As Circle Enters Payments Arena

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