Hecto Financial said on May 13 it has begun taking pre-registrations ahead of the launch of its CPN Global Service based on Circle’s global payments network, CPN (Circle Payments Network).

The service will be offered to financial institutions, fintech companies and corporations holding USDC that want to use CPN for overseas remittances. Companies that pre-register can use it immediately after the service launches in July.

Hecto Financial, the only CPN partner in South Korea, said it will link its own system with CPN so clients can use overseas remittance and settlement functions without directly connecting to Circle’s system.

It said pre-registered companies can check remittance methods and settlement procedures by country, as well as financial regulatory requirements, in advance, which can shorten the time needed to adopt the service. Hecto Financial plans to also support reviews of financial regulations including anti-money laundering (AML).

CPN is a global payment network based on the dollar stablecoin USDC. It is designed to process business-to-business cross-border remittances and payments faster and at lower cost than the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.

A Hecto Financial official said, "Overseas remittances based on CPN are a service that supports companies in building a more efficient global funds transfer system using USDC," adding, "We will enable domestic companies to use global payment infrastructure easily and quickly."