Circle Payments Network (CPN) has received the Bronze award in the Payments category at the Money20/20 awards. Circle said more than 175 financial institutions are helping expand CPN into a global payments network. Money20/20 is one of the payments industry’s largest annual events, and its Money Awards recognize companies and products across categories including payments — a forum where stablecoin-based settlement infrastructure now sits alongside conventional payment technologies.

Circle’s User Score in the source material is 8.7.

Circle cites network of more than 175 institutions

Circle announced the award on X and thanked its payments team and the financial institutions involved in building 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. — Circle (@circle) October 19, 2026

The figure of more than 175 institutions is consistent with a number Circle reported at the end of June 2026. That figure represented a 24% increase from the previous period. However, the award announcement did not provide a new breakdown of institutions actively processing transactions. Not every enrolled institution is necessarily operating active payment processing, and updated disclosures on how many members are actively transacting would clarify how much of the enrolled base is moving payments on the network.

CPN is designed to connect financial institutions, payment providers and fintech companies through stablecoin-based settlement systems. USDC serves as the primary value-transfer asset for cross-border transactions on the network.

CPN reports $14.7 billion in annualized transaction volume

According to Circle, CPN reached $14.7 billion in annualized transaction volume at the end of the second quarter of 2026. The figure was based on transactions completed during the quarter’s final 30 days and increased 76% from the previous quarter.

The $14.7 billion figure does not represent the total amount settled over a full year. Instead, it is an annualized measure, sometimes described as transaction velocity, calculated by projecting the activity recorded during the reference period across 12 months.

Circle separately reported that $14.8 trillion in USDC was transacted on-chain during the second quarter. By the end of that quarter, $73.3 billion worth of USDC was in circulation. Those figures indicate that USDC activity extends well beyond CPN.

Circle expands stablecoin infrastructure for financial institutions

Circle is expanding CPN to make it easier for traditional financial institutions to settle transactions using stablecoins. Its Managed Payments service allows banks, payment companies and fintech platforms to connect within their existing fiat-value chains, while Circle manages the underlying asset minting and burning, blockchain infrastructure and compliance functions.

The structure is intended to reduce the operational burden for institutions that want to settle with stablecoins without maintaining crypto assets themselves.

Circle has also been expanding payout connectivity through partnerships with Games across major markets. The company has said that Nium settled USDC through payout infrastructure covering more than 190 countries. Other corridor partners include firms developing payout services in the United States, the European Union, India, the Philippines, Singapore and the United Arab Emirates.

Stablecoins are being used in areas including bank settlement, merchant payments, payroll systems and international payout services. The Money20/20 award adds recognition to Circle’s efforts to integrate stablecoin settlement into financial infrastructure.

Source: CryptoNinjas