Circle Internet Financial is developing the Circle Payments Network (CPN) to enhance the global marketplace for stablecoin payments through a robust framework of institutional collaboration and compliance. CPN is a permissioned, blockchain-based network designed for vetted financial institutions, requiring participants to meet strict regulatory standards such as Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) compliance. Circle operates as the primary governing body, managing network policies, technical standards, and the infrastructure needed for secure and transparent interactions using stablecoins like USDC and EURC. By maintaining a separation of funds and focusing on orchestration rather than custodianship, Circle enables financial institutions to control their customer interactions and compliance responsibilities. CPN aims to replace fragmented legacy payment systems with a transparent, rule-based network that aligns with global regulatory standards, fostering trust and operational resilience. The network's stakeholder model and governance framework are crucial for its growth, with Circle Technology Services, LLC facilitating technology services without holding funds or managing accounts.