Wu said that Circle announced the launch of Circle Managed Services to reduce the technical and compliance barriers for enterprises adopting stablecoins, and released its first custodial service, CPN Managed Payments, as an integrated solution based on its licensing and payment infrastructure; this service combines functions such as fiat and stablecoin deposits and withdrawals, wallets, liquidity, compliance, and payment orchestration, enabling banks, payment institutions, and fintech companies to access stablecoin settlement without building their own digital asset systems, and supporting a gradual transition from a fully custodial model to a hybrid or more composable infrastructure architecture.