Circle Internet Financial has submitted a response to the Committee on Payments and Market Infrastructure's (CPMI) consultation, emphasizing the need for innovation, transparency, and accessibility in enhancing global cross-border payment systems. The response aligns with the G-20’s objectives to reduce the costs and settlement times of international payments, particularly in underbanked regions, by advocating for the use of regulated stablecoins like USDC. These stablecoins can address inefficiencies in retail and remittance payment flows, offering near-instant settlements and reducing costs. Circle highlights the potential of distributed ledger technology and tokenized settlement systems to overcome structural frictions and enhance efficiency, traceability, and financial inclusion. Despite progress, Circle identifies ongoing challenges, including structural bottlenecks, compliance inefficiencies, and a lack of interoperability, and calls for unified standards and harmonized frameworks to address these issues.