Provider at a glance
- Category
- Stablecoin Settlement
- Entity
- All 6 Circle products
- Official website
- circle.com
Independent rankingchecked How it works
Details
Scored 78 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Circle Payments Network
Circle's cross-border payments network
Stablecoin Settlement
#3 Overall
Ranked #3 of 7 stablecoin settlement in the published ranking
78
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Circle Payments Network right for you?
Right for you if these matter most
- Where the Platform's Float Legally Sits7/10, the category best
- Published Wholesale Price5/10; the category best is 6
- Whose Licence the Platform Operates Under7/10; the category best is 8
Look elsewhere if these come first
- Settlement Finality and Failure Handling6/10 here; Bridge.xyz scores 9
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best settlement provider shows where it lands for you.
What will Circle Payments Network cost you?
Not priced on this basis
- Payments per month
- 500
- Average payment
- $100
How safe is Circle Payments Network?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
- On the registersMiCA: authorised, CIRCLE INTERNET FINANCIAL EUROPE SAS (FR, since 2026-04-23). Read 3 November 2026. Open the register
Alternatives to Circle Payments Network
Compare all 4- 1BVNK2 points above · stronger on settlement finality (8 against 6)80
- 2Bridge.xyzLevel on score · stronger on settlement finality (9 against 6)78
- 4Zero Hash5 points below · stronger on licence perimeter (8 against 7)73
For your setup
Find out if Circle Payments Network fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Circle Payments Network lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best settlement providerNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Circle Payments Network ranks #3
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (20.2 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
307+6.725.07#1/7Loading evidence…
255+4.005.06#2/7Loading evidence…
257+5.607.08#3/7Loading evidence…
206+3.846.09#3/7Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
MarginLevelbehind Bridge.xyz, #2
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 76–80 and ranks #2–#3
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Circle Payments Network’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Where the Platform's Float Legally Sits 7 → 8 on its ladder · passes Bridge.xyz+180#3 → #2
Published Wholesale Price 5 → 6 on its ladder · passes Bridge.xyz+180#3 → #2
Whose Licence the Platform Operates Under 7 → 8 on its ladder · passes Bridge.xyz+180#3 → #2
Settlement Finality and Failure Handling 6 → 7 on its ladder · passes Bridge.xyz+179#3 → #2
Where the Platform's Float Legally Sits 7 → 3 on its ladder · Zero Hash passes it−471#3 → #4
Published Wholesale Price 5 → 1 on its ladder · Zero Hash passes it−472#3 → #4
Whose Licence the Platform Operates Under 7 → 3 on its ladder · Zero Hash passes it−472#3 → #4
Smallest climb: where the Platform's Float Legally Sits 7 → 8 passes Bridge.xyz, #2.
Strengths
3 from the score dataWhere it leads
Best for readers who weight
- Where the Platform's Float Legally Sits — 7/10, the category best
- Published Wholesale Price — 5/10, category best 6/10
- Whose Licence the Platform Operates Under — 7/10, category best 8/10
Tradeoffs
1 from the score dataWhere it trails
Not for readers who put first
- Settlement Finality and Failure Handling — 6/10 against a category best of 9/10
Record watch-outs
- The licences a platform thinks it is buying into are not held by the entity it contracts with for CPN. Circle's own CPN product page states "Circle Technology Services, LLC (CTS) is the operator of Circle Payments Network (CPN)" and "While CTS does not hold funds or manage accounts on behalf of customers" - CTS is a technology service provider that holds no money-transmitter or e-money authorisation and is not in the flow of funds, and the CPN White Paper confirms that "CPN does not move funds directly". To Circle's credit, it does disclose the split on the licences page and on every CPN page, in a footer reading "Circle Technology Services, LLC (“CTS”) is a software provider and does not provide regulated financial or advisory services. You are solely responsible for services you provide to users, including obtaining any necessary licenses or approvals and otherwise complying with applicable laws." In Self-managed mode this means CPN is rails, not a regulated settlement counterparty: the platform must itself be an eligible financial institution (an OFI), must source and hold its own USDC, and carries the regulatory perimeter in every market it pays into. Only Managed Payments puts a licensed Circle entity in the flow - the Managed Payments page footnote states "CPN Managed Payments is provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC (NMLS #1201441) is a licensed provider of money transmission services." - and for that mode Circle publishes no customer agreement at all, so a platform handing Circle its float cannot read the contract governing it before signing; the docs refer only to a private "Managed Payments agreement with Circle". A buyer that reads the NMLS number and assumes it covers the whole network has misread the structure: by Circle's own footnote it covers Managed Payments, not the self-managed network. Title verified 2026-08-13 against the contract itself: the platform keeps title. "The title to all of your Supported Digital Currency will remain with you at all times." (https://www.circle.com/legal/user-agreement) "Title to, and beneficial interest in, the Committed USDC does not transfer to Circle at any time." (https://console.circle.com/legal/developer-terms)
Competitive position
Where Circle Payments Network leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 714.0 of 20 · constant here
Published criteria#2 / 715.1 of 30 · best 15.8
Friction#1 / 72.7 of 10 · constant here
Trust record#1 / 73.2 of 8 · constant here
Measured data#1 / 79.7 of 18 · pool best
Where Circle Payments Network leads
- Where the Platform's Float Legally Sits#1 / 7
- Published Wholesale Price#2 / 7
- Whose Licence the Platform Operates Under#3 / 7
- Settlement Finality and Failure Handling#3 / 7
Where it trailsNo criterion in the bottom third of its pool.
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Bridge.xyz#2 of 7 · score 78 · same score
Circle Payments Network leads on
- Where the Platform's Float Legally Sits7 vs 5
Bridge.xyz leads on
- Settlement Finality and Failure Handling9 vs 6
Scenario cost: Bridge.xyz has no verified pricing for this scenario.
BVNK#1 of 7 · score 80 · 2.0 points ahead
Circle Payments Network leads on
- Where the Platform's Float Legally Sits7 vs 5
BVNK leads on
- Published Wholesale Price6 vs 5
- Whose Licence the Platform Operates Under8 vs 7
- Settlement Finality and Failure Handling8 vs 6
Largest single reason BVNK is ahead: published criteria (+1.8 display points).Scenario cost: BVNK has no verified pricing for this scenario.
Zero Hash#4 of 7 · score 73 · 5.0 points behind
Circle Payments Network leads on
- Where the Platform's Float Legally Sits7 vs 4
- Published Wholesale Price5 vs 4
Zero Hash leads on
- Whose Licence the Platform Operates Under8 vs 7
Largest single reason Circle Payments Network is ahead: published criteria (+5.5 display points).Scenario cost: Zero Hash has no verified pricing for this scenario.
Against the leader
80 vs 78 · gap 2.0Why BVNK ranks above Circle Payments Network
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale; a row-above bound on one of the rows keeps the reproduced gap (1.8) from matching the displayed one exactly, which is stated rather than hidden.
DimensionThisBVNKGap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight15.115.8−1.8, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight9.79.7same
Published criterionThisBVNKPoints
Where the Platform's Float Legally Sits · w3075+1.92, better
Published Wholesale Price · w2556−0.80, worse
Whose Licence the Platform Operates Under · w2578−0.80, worse
Settlement Finality and Failure Handling · w2068−1.28, worse
Net7880−2.0≈
Your scenario
Circle Payments Network is not priced for this scenario
Percentage and fixed legs on each payment, for a year. Excludes chargebacks, FX markup and settlement fees priced separately. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Payments per month · your input500
Average payment · your input$100
Rate read from the provider’s published pricing ↗ on 28 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory medianNot priced0 of 7 rows priced
Cheapest pricedNone pricedDifference not stated · availability not applied — set your country to filter
7 of 7 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 28 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #2 to #3 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 28 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Where the Platform's Float Legally Sitsstrength 7 · weight 30Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Published Wholesale Pricestrength 5 · weight 25Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Whose Licence the Platform Operates Understrength 7 · weight 25Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Settlement Finality and Failure Handlingstrength 6 · weight 20Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Custody failure (Circle Payments Network 7/10): whoever holds the assets loses or withholds them.Scored by Where the Platform's Float Legally Sits · 30%
- Regulatory failure (Circle Payments Network 7/10): no licence where you are, or a forced market exit.Scored by Whose Licence the Platform Operates Under · 25%
- Execution failure (Circle Payments Network 6/10): you get a worse price, later, or nothing.Scored by Settlement Finality and Failure Handling · 20%
Not assessed by this ranking: Control failure, Liveness failure, Insolvency failure, Exit failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Published Wholesale Price (25%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- NO PRICE FIGURE IS PUBLISHED ON ANY CIRCLE SURFACE. The fee STRUCTURE is published in Circle's own CPN field guide (https://
www .circle .com /blog /circle-payments-network-cpn-a-concise-field-guide-for-prospective-network-participants, dated 7 November 2025, fetched 28 September 2026, HTTP 200): "Transactions processed through CPN incur fees from two sources: BFIs: These fees compensate BFIs for local currency disbursement and processing, as well as cover FX spreads that reflect liquidity risk and conversion costs. CPN: This fee is a variable basis-point charge, tiered by country group, to support core network functions including compliance, security, and infrastructure." It adds: "Because settlement takes place on open, programmable blockchains, there are also blockchain transaction costs (i.e., “gas” fees) that cover the cost of using the network." No basis-point number, no country-group tier table, no per-payout fee and no monthly minimum appears anywhere. The OFI quickstart (https:// developers .circle .com /cpn /quickstarts /integrate-with-cpn-ofi .md, fetched 28 September 2026) names four machine-readable fee types returned per quote - TAX_FEE, BFI_TRANSACTION_FEE, CIRCLE_SERVICE_FEE and BLOCKCHAIN_GAS_FEE - and the only figures shown are inside a sample response on the ETH-SEPOLIA testnet (CIRCLE_SERVICE_FEE "0.000000" USDC), which is illustrative sample data, not a rate card, and is not scored. Price is discovered per quote: "The quote response includes details of all applicable fees" (https:// developers .circle .com /cpn /concepts /quotes .md). https:// www .circle .com /pricing returns HTTP 301 with 'location: /contact/partner' (re-checked 28 September 2026), redirecting the word 'pricing' to a contact-sales form; https:// www .circle .com /cpn /pricing and https:// developers .circle .com /cpn /pricing both return HTTP 404; the docs index https:// developers .circle .com /llms .txt lists fee pages only for CCTP and Gateway, none for CPN; and the 28-page CPN White Paper (HTTP 200) contains zero occurrences of 'basis point', 'bps' or 'pricing'. Pages checked on 28 September 2026 and found to carry no CPN price: circle.com/cpn, /cpn/managed-payments, /cpn/fiat-payments, developers.circle.com/cpn.md, /cpn/fiat-payouts and the Circle Mint User Agreement (Last Updated: 14 September 2026). No list price is published, so cost cannot be compared before a sales conversation.Circle Payments Network — official pricing page ↗ · 28 September 2026 - Prices published in
- USDCircle Payments Network — official pricing page ↗ · 28 September 2026
- Licences held
- United Kingdom: Registration / authorisation, European Union: Registration / authorisation, United States: Registration / authorisation, Singapore: Registration / authorisation, UAE: Registration / authorisation
- Compliance level
- full
- Regulatory note
- From https://
www .circle .com /legal /licenses (Last Updated: 7 January 2026; re-fetched 200 on 13 August 2026). The page's licence disclaimer is scoped to the US table only: it reads "*Licenses are held under Circle Internet Financial, LLC, NMLS #1201441, unless otherwise noted". - Supported chains
- Ethereum (mainnet), Polygon PoS (mainnet), Solana (mainnet), Ethereum Sepolia (testnet), Polygon PoS Amoy (testnet), Solana Devnet (testnet), USDC (settlement asset for Fiat Payouts and Stablecoin Payments), EURC (Stablecoin Payouts and Payins only), Arc - announced as 'coming soon' in the field guide, verbatim "(As of November 6, 2025, CPN supports Ethereum, Polygon, and Solana blockchains, with support for Arc coming soon.)"; still NOT listed on the supported-blockchains reference as of 13 August 2026, A contradiction: the docs reference https://
developers .circle .com /cpn /references /blockchains /supported-blockchains .md lists exactly three mainnet chains (Ethereum, Polygon PoS, Solana), but the marketing FAQ on https:// www .circle .com /cpn /managed-payments claims "Managed Payments enables stablecoin pay-ins and payouts across 20+ major blockchains, including Ethereum, Base, Solana, and Arc." Base and Arc appear on neither the CPN supported-blockchains reference nor anywhere in the CPN docs. Score the docs: three mainnet chains for CPN, with the 20+ claim recorded as an unreconciled marketing figure. - Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Not published
Legal entity on file: Circle, placed in 6 products. Only confirmed entities are shown; nothing is inferred from the brand name.
If something goes wrong with Circle Payments Network: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
9 methodology entries
- 28 September 2026Current verified snapshot · methodology 2026.10.18Score 78, #3 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
- 16 September 2026
2026.09.15Dimension scores carry tenths, and eleven more categories are re-read from primary sources · platform-wide- changed Dimension scores resolve to tenths of a point (O-04b), and weightedTotal is rounded to six decimal places before the order is read. 518 published scores move across 107 categories that were not re-read; none of them moves by more than 4 points, and most move by 1.
- fixed 66 published scores change in the eleven re-read categories, against a verbatim source each. The largest moves are Reflexer RAI (−16), Beefy and Unrekt (−11), Aztec (−10) and Golem (+9) — all of them rows whose sources had moved since their last read.
- changed Published order moves in 38 of 119 categories and three #1s change: smart_contract_audits (Zellic → Certora) and travel_rule_compliance (Sumsub Travel Rule → CodeVASP) on the finer resolution, kyc_compliance (Veriff → Sumsub) on the re-read.
- added availabilitySource (O-04g): for a reader who states a country, a row whose availability in that country rests on a region tag its record gives no source for sorts below every sourced row. It is inert in every order published here, which states no country.
Methodology 2026.10.18, the same published run every visitor sees · receipt stablecoin_settlement:circle_cpn:2026.10.18:b07adeeb0de1
Are you Circle Payments Network? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.