Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 194

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 194
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, and payments use cases.
However, building and deploying these applications is complex. For developers, crafting simple user experiences that are familiar to and consistent with existing mobile and Web applications requires deep familiarity with cryptography and blockchain
network integration, and can pose undue security risks for end-users. Companies deploying these applications also require specialized knowledge for deploying and operating smart contracts and blockchain
software nodes, also introducing significant security and operational risks.

To address these issues, and to help grow the number of Web3 Apps in the world, we
offer a comprehensive suite of products under the Web3 Services banner. Together, this suite enables existing Web2 developers, internet-enabled businesses, and financial institutions to more easily offer Web3 capabilities, including using USDC as a
means of payment and settlement within consumer internet, e-commerce, and finance applications.

Circle Programmable Wallets

The most important building block for Web3 enabling an internet application is the integration of digital wallet technology into applications. With
Programmable Wallets, developers can rapidly integrate Web3 wallet technology into their end-user applications across mobile apps and the Web. Programmable Wallets enable
end-user controlled wallets, as well as developer-controlled wallets, and support digital assets and tokens across multiple blockchain networks.

Importantly, Programmable Wallets remove much of the friction typically associated with using a Web3 App. Functionality like remembering seed phrases or complex user
experience for signing transactions with private keys are replaced with familiar patterns such as PIN codes, biometric authentication, and linking to existing user identities using logins with Google or Apple.

USDC support plays a central role in Programmable Wallets, enabling end-users to easily make and receive USDC payments, thereby removing the complexity of which
blockchain network or protocol being used, as well as removing the need for end-users to understand or make gas fee payments.

Since the beta launch of
Programmable Wallets, more than 11,000 developers have engaged with the product, deploying almost 10 million wallets on-chain. Grab Networks, a leading superapp in Southeast Asia, has implemented Circle’s
solutions to power its new Web3 wallet, beginning with non-fungible token (“NFT”)-based stored value vouchers that can be used in real-world commerce.

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CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

Circle smart contract platform

A fundamental part of the innovation of blockchain networks and Web3 technology