Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 6

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 6
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, (ii) can be redeemed for such reference fiat currency on a one-for-one basis, and (iii) are backed by assets held in a reserve that are considered low-risk and readily liquid with a value in such reference fiat currency that meets or exceeds the redemption value of the stablecoins in circulation. |

| • |     | “private key” is a string of letters and numbers that allows a person to access and manage his/her digital assets in a digital wallet or other custodial solution, similar to a password. |

| • |     | “programmability,” with respect to money or digital assets, occurs when rules that define or constrain usage can be embedded into the money or digital asset. |

| • |     | “proof of stake” is a consensus mechanism that blockchains can use to agree upon a single true record of data history, in which traders are required to “stake” a portion of their digital assets as collateral, and if a trader adds a transaction to the blockchain that other validators deem to be invalid, they may lose a portion of what they staked. |

| • |     | “rails” are the underlying infrastructure and systems that facilitate the transfer of value between parties. |

| • |     | “secured overnight financing rate” or “SOFR” is a benchmark interest rate published by the Federal Reserve Bank of New York that reflects the cost of borrowing cash overnight collateralized with US Treasury securities, used as an alternative to the London Interbank Offered Rate (LIBOR). |

| • |     | “seed phrase” is a sequence of random words that stores the data required to access or recover digital assets on blockchains or in digital wallets. |

| • |     | “smart contracts” are programs built on blockchain networks that automatically execute certain actions when a predefined set of criteria are met. |

| • |     | “stablecoin” is a digital asset whose value is designed to track the price of an underlying asset or another unit of value. |

| • |     | “standardized network protocols” are established sets of rules governing the transmission of data between devices. |

| • |     | “superapp” is an application that offers multiple services and features within a single platform. |

| • |     | “TMMF” or “Tokenized Fund” is an onchain, tokenized representation of a traditional money market fund. |

| • |     | “tokenization” is the process whereby ownership rights in an asset are represented as digital tokens and stored on