cryptobriefing.com
OpenPayd has integrated with Circle Payments Network (CPN), giving businesses access to near-instant global fiat payments through stablecoin-powered settlement, the project said in a statement.
With the integration, businesses can use OpenPayd’s existing financial infrastructure to send and receive fiat currencies while stablecoin infrastructure handles settlement in the background. The companies said businesses do not need to build or operate their own blockchain infrastructure, allowing them to combine traditional payment rails with the speed of stablecoin settlement.
CPN, operated by Circle Technology Services, connects participating financial institutions and coordinates cross-border payment flows using regulated stablecoins such as USDC and EURC. OpenPayd said the integration can support near-instant settlement across international corridors, including payments from euros into Brazilian real and pounds sterling into Mexican pesos.
Circle’s Irfan Ganchi said OpenPayd’s connection to CPN enables near-instant fiat settlement through a single API, while reducing the operational complexity associated with multiple payment technologies.
“By connecting to CPN, OpenPayd removes the complexity of managing multiple payment technologies, allowing businesses to transact in the fiat currencies they need while benefiting from the speed of stablecoin settlement,” Ganchi stated.
OpenPayd’s Michael Treacy said the integration allows clients to access the efficiency of stablecoin infrastructure without changing the fiat currencies they use for global payments. He added that programmable money and software-like settlement could create opportunities for the growth of the digital economy.
Founded in 2018, OpenPayd serves more than 1,200 businesses and processes over $280 billion in annual volumes. The launch expands OpenPayd’s universal financial infrastructure, which connects businesses to domestic payment rails, international banking networks and stablecoin infrastructure through one integration.