News Roundup — Circle Launches CPN with USDC and EURC for Real-Time Settlement, Aiming to Rival Visa and Mastercard in May

Major news stories this week;

1. Circle Launches CPN with USDC and EURC for Real-Time Settlement, Aiming to Rival Visa and Mastercard in May‍
2. Ripple’s RLUSD Stablecoin Expands DeFi Footprint with Aave Integration‍
3. KuCoin Debuts in Thailand with Full Regulatory Approval‍
4. PayPal, Coinbase Partner to Eliminate Trading Fees on PYUSD in Bid to Boost Adoption‍
5. US Banks Are ‘Free to Begin Supporting Bitcoin’ - Michael Saylor

Story Summaries;

1. Circle is launching the Circle Payments Network (CPN) in May, a global payment system using USDC and EURC for real-time, 24/7 cross-border transactions. Aiming to rival Visa and Mastercard, CPN offers a semi-permissioned network with an API for financial institutions, cross-chain interoperability, and confidential transactions. This move leverages Circle’s stablecoin market position, supported by Fireblocks.
2. Ripple's RLUSD stablecoin has integrated with Aave, enabling users to supply and borrow RLUSD with a $50 million lending pool and $5 million borrowing pool. This follows Ripple’s acquisition of Hidden Road, which will use RLUSD as collateral. RLUSD, approved by the NYDFS, has grown to a $294 million market cap since its December launch, now the 12th largest stablecoin.
3. KuCoin has launched a fully licensed crypto exchange in Thailand under the newly rebranded KuCoin Thailand, following SEC approval. This marks KuCoin's ninth license in the country as part of its global expansion, despite regulatory setbacks in South Korea. The exchange continues growing in Latin America, the Middle East, and Europe.
4. PayPal and Coinbase have partnered to eliminate trading fees for PayPal USD (PYUSD) on Coinbase, allowing users to buy, sell, and redeem PYUSD 1:1 for USD. This move aims to boost PYUSD adoption, with the companies also exploring DeFi use cases. The partnership follows PayPal's announcement of a 3.7% annual yield for PYUSD holders in PayPal and Venmo wallets, starting in 2025. PYUSD, launched in August 2023, now has a market cap of $866 million and competes with major stablecoins like USDT and USDC.
5. Bitcoin adoption in the U.S. could surge after the Federal Reserve lifted its 2022 ban on banks engaging with crypto. This clears the way for institutional involvement, allowing banks to support Bitcoin. Experts view this as a key step toward broader financial adoption, though further legislation is needed for full regulatory clarity.
   ‍

And that’s all for last week’s news! Wishing you a great week ahead!