According to official news, Circle announced the release of Refund Protocol, a smart contract that supports stablecoin payment non-custodial custody and on-chain dispute resolution, built for the composability and transparency of on-chain commerce, supporting lock-up periods, arbitrator-mediated refunds and early withdrawals based on off-chain protocols, which support on-chain dispute resolution and USDC payment refunds, There is no need for custody or trust from a centralized authority.