Key Takeaways:
- Circle Payments Network (CPN) has been named Bronze for Payments in the Money20/20 awards.
- Circle stated over 175 financial institutions assist to scale up CPN into a global payments network.
- CPN revealed in previous reports that it would have $14.7B in annualized transaction volume at the end of Q2 2026.
Circle has attained new clarity and endorsement for its stablecoin payment initiative, with Circle Payments Network (CPN) earning Bronze at the Money20/20 awards. The company emphasized that it has an expanding institutional base, as it has over 175 financial institutions behind the network.
Circle Highlights 175+ Institutions Behind CPN
Circle announced the award on X, thanking both its payments team and the financial institutions helping build CPN.
Circle Payments Network (CPN) just won BRONZE in Payments at the @money2020 Money Awards.
Thank you to the 175+ financial institutions helping make CPN a global payments network, and to the Circle payments team for building it. https://t.co/C2GoBARFVl
— Circle (@circle) October 19, 2026
The 175-plus number is similar to that of Circle, which reported 175 financial institutions at the end of June 2026. This was up from a 24% rise in the previous one.
Note that not all schools will necessarily be running active payment processing, although if they have enrolled this should mean they are. The firms are assisting in globalizing CPN, but Circle’s award announcement didn’t give a new breakdown of active transaction participants.
CPN aims to link financial institutions, payment providers and fintech firms via stablecoins-based settlement systems, with USDC being the key point of value transport across borders.
Read More: Circle Brings USDC and EURC Into SAP Workflows Powering 84% of Global Commerce
CPN Reached $14.7 Billion in Annualized Payment Volume
Based on transactions completed over the last 30 days of the quarter, CPN now reports the number of annualized transactions at $14.7 billion, according to circle. The figure was up 76% quarter over quarter.
This shouldn’t be interpreted as the annual volume of settlement, but as the annualized number. It is also called the sales velocity of the transactions and is the rate of transactions in the reference period forecasted for 12 months.
Separately, Circle also reported that an additional $14.8 trillion worth of USDC was transacted onchain in Q2, and that by the end of Q2, there were $73.3 billion worth of USDC in circulation, indicating much deeper USDC activity outside of CPN as a whole.
Circle Pushes Stablecoins Deeper Into Financial Infrastructure
Circle is testing out CPN expansion to make it easier for traditional finance institutions to settle with stablecoins.
Its Managed Payments service enables banks and payment companies and fintech platforms to connect with one another in their existing fiat value chain, and Circle to handle the underlying asset minting, burning, blockchain infrastructure and compliance.
All that structure has been created to lighten the burden on institutions which would like to settle with stablecoins but do not wish to maintain crypto assets.
Circle has also been increasing by way of partnership with Games across large markets when it comes to providing payout connectivity. The firm has stated that Nium settled USDC with more than 190 countries’ payout infrastructure before.
The other corridor partner firms include those that are building payouts in the United States, European Union, India, Philippines, Singapore & the United Arab Emirates.
Now that stablecoins are starting to challenge traditional banking methods, particularly with bank settlement, payments for merchants, payroll systems, and global payout systems, Money20/20 is another feather in the cap for Circle.
Read More: Circle Targets 100 Markets and $25B Flows in Major USDC Payments Expansion Deal
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