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CPN Managed Payments gives partners stablecoin settlement without needing in-house custody, compliance, or onchain systems. Circle holds assets, runs compliance, and does the onchain work. You call APIs for sub-wallets, funding, withdrawals, and payins or payouts. You stay in fiat at the edge. Payment platforms and banks can offer stablecoin payments under their brand without custody or compliance builds in-house. See the Managed Payments API.

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Key features

  • Fiat funding and withdrawals: Send or receive fiat over wire and other methods Circle supports.
  • Stablecoin payins and payouts: Send and receive USDC on supported blockchains. Payins credit each sub-wallet; send payouts from each sub-wallet or the main wallet when enabled.
  • Merchant sub-wallets: Give each merchant or customer a separate stablecoin account for clear bookkeeping and audit trails. Use the Accounts API to list, create, and fetch these accounts. Your agreement’s onboarding model determines whether you or Circle provisions them.
  • Line of credit and reporting: Borrow USDC on credit when your agreement allows it. Daily and monthly payout and balance reports are available.
  • Two onboarding models: Your Managed Payments agreement with Circle sets which model you use.
    • Direct: Circle works directly with your merchants/customers. You collect Know Your Business (KYB) of your merchant and share it with Circle. Circle creates sub-wallets for the merchants/customers after KYB approval.
    • Intermediary: Circle doesn’t have to onboard your underlying merchants or customers. You create sub-wallets for each merchant or customer with the APIs.

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How it works

1

Onboard and obtain API access

You join through Circle’s invitation and sign up with a Managed Payments account. Circle assigns role-based permissions to your API keys, controlling access to specific capabilities such as sub-wallets, wires, stablecoin payouts, reports, and balance views. Circle configures these roles during onboarding.
2

Create merchant sub-wallets

Creating merchant sub-wallets depends on the onboarding process you agree on with Circle.
  • Direct onboarding: You collect end-merchant Know Your Business (KYB) information and share it with Circle through a secure offline channel. Circle creates sub-wallets for those merchants on your behalf.
  • Intermediary model: Use the merchant sub-accounts API to create the sub-wallets you need for your merchants. Sub-wallets keep balances separate for tracking and reporting.
3

Run payin and payout flows

  • Payins:
    1. Create a continuous payment intent for third-party payins so each sub-wallet has a stable USDC receive address.
    2. After USDC is confirmed, use Fiat Burns to withdraw USDC to fiat in your bank account.
  • Payouts:
    1. Use the Wires API to add bank accounts and wire instructions, then send fiat so Circle credits USDC.
    2. Use the Payouts API to send USDC onchain to payees you register and approve in the Address Book.
  • Line of credit (optional): If your agreement supports it, you can borrow USDC before fiat settles.

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API summary

AreaPurpose
Accounts APIList and get stablecoin accounts for self and merchant sub-wallets.
Merchant Sub-Account APICreate sub-account wallets for merchants.
PayinsPayment intents and Payments for payin flows.
Fiat BurnsWithdraw USDC to fiat in your bank when enabled.
PayoutsOnchain USDC sends plus funding, Address Book, and Line of Credit when enabled.
For more details, see the Managed Payments API reference.

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Get started

Pick a quickstart to walk through a managed payment flow:

Receive Stablecoin Payins

Payment intents, inbound USDC, and settlement to fiat for your use case.

Send Stablecoin Payouts

Sub-wallets, funding, and USDC payouts for your managed payments use case.