Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 203

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 203
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 As the largest 
 regulated payment stablecoin by the amount of stablecoins in circulation, we believe USDC will become the preferred medium through which to buy, sell, and trade digital assets, enabling us to take advantage of a sector that we believe will grow    
 considerably in the future.                                                                                                                                                                                                                             |

| • |     | New forms of commerce and finance enabled by programmable money: The capability to program the behavior of                                                                                                                                            
 digital money using smart contracts fundamentally changes how market participants can conduct digital commerce. For example, smart contracts can improve the speed and transparency of every step in a commercial value chain, deliver new forms of   
 adaptive loyalty and rewards for retail purchasers, and support expansion in models for flexible work and labor support for businesses of all sizes. For financial institutions, programmable money promises to unlock new utility for end-customers, 
 provide more targeted and just-in-time finance, improve risk management, and provide greater observability to compliance, audit, and regulatory functions.                                                                                            |

| • |     | Consumer payments: Just as global consumers use the internet to share information, the internet financial                                                                                                                                    
 system will enable consumers to use the internet to transfer money—in traditional and newly programmable ways—at lower costs and quicker speeds, and with greater access. Stablecoins have the potential to become the standard for everyday 
 use in P2P transactions and in retail payments, and critically, for all forms of programmable commerce. According to McKinsey’s 2024 Global Payments Report, annual global consumer                                                          |

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

| payments revenue stood at approximately $2.4 trillion in 2023. In addition, our technology has the potential to drive material growth in the consumer payments market itself. As both the unit 
 economics and utility from stablecoins grow, our technology could contribute to an ever larger volume of consumer payments than has been possible in the existing financial system.            |

| • |     | Modernizing traditional capital markets: A programmable money system native to the internet can also                                                                                                                                                 
 revolutionize the global capital markets. According to S&P Global, annual global capital markets revenue stood at approximately $180 billion in 2023. Even beyond the near-term opportunity of USDC to facilitate settlement activities, large-scale 
 capital markets activities including foreign exchange, interest rate-related securities and derivatives, and equity and fixed income investment vehicles can all be tokenized using blockchain technology and then