Company: CRCL
Filing Date: 2025-05-16
Form Type: S-1/A
Source: 0001193125-25-121234
Chunk: 28

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-16
Form: S-1/A
Chunk 28
---
 U.S. government and government-backed securities and short-term U.S. Treasury securities. According to RWA.xyz, USYC is one of the largest onchain TMMFs
in terms of assets under management, with approximately $663.7 million in assets under management as of March 31, 2025. We believe that leveraging Hashnote’s existing traction and momentum will enable us to enter the rapidly emerging TMMF space
with a well-established tokenized stable yield product, enhancing our leading position within the overall digital asset capital markets.

On February 13, 2025,
we received approval to issue USYC and offer Circle Mint accounts out of Bermuda under our existing Digital Assets Business Act (“DABA”) License granted by the Bermuda Monetary Authority (“BMA”). We plan to integrate USYC into
the Circle stablecoin network, offering eligible customers the ability to move between the non-yield bearing Circle payment stablecoins and USYC at the settlement speed of the blockchain.

Circle Liquidity Services

Circle liquidity services provide
institutional minting, reserving, redemption, and foreign exchange services for Circle stablecoins.

Circle Mint

Circle Mint is our service offering that provides institutional customers USDC- and EURC-related services, such as minting USDC and EURC, redeeming USDC and EURC for the
U.S. dollar and euro, respectively, directly from us, and sending and receiving USDC and EURC to and/or from Circle Mint accounts. Circle Mint supports international wires and domestic bank transfers in more than 185 countries. Circle Mint provides
customers with a powerful user interface, advanced security, and workflow and API capabilities. As of March 31, 2025, there were 1,834 Circle Mint customers with accounts. Circle Mint is currently available only to institutions, such as exchanges,
institutional traders, wallet providers, banks, and consumer apps companies. Circle Mint is not available to individuals; as such, no individuals are Circle Mint customers. To open a Circle Mint account, a potential customer must submit an
application in which such potential customer provides us with compliance information and supporting documentation including, but not limited to, the legal entity, its operations, beneficial owners, and the intended use of the account. Potential
Circle Mint customers must pass our screening processes, including, but not limited to, ID verification, KYC checks, sanctions screening, and suitability checks (for which we consider factors such as the type of business the potential customer
engages in and the potential customer’s anticipated mint