Company: CRCL
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001193125-25-084832
Chunk: 199

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 199
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 market conditions and volatility
of the specific eligible assets used as collateral, (iii) euro-denominated sovereign debt securities, (iv) qualifying government bond Undertakings for Collective Investment in Transferable Securities funds, and (v) other financial instruments
including digital tokenized products, where the underlying asset composition of such financial instruments is limited solely to eligible assets set forth in the preceding (i) through (iv).

We intend to continue to maintain a reserve management standard that is substantially consistent with our current standard subject to applicable law.

Our reserve management committee provides governance, oversight, and accountability around the management of Circle stablecoin reserves. The committee is chaired by our
Chief Financial Officer, and members include senior level executives across Risk, Legal, Finance, Product, and Policy. Currently, the voting members of the committee are our Chief Executive Officer, Chief Financial Officer, President and Chief Legal
Officer, Vice President of Product, Chief Economist, and Head of Financial Risk. Committee members are designated by the committee’s charter based on the offices they hold in our company. Changes in membership require approval by the committee.

The committee sets the strategy for reserve management, approves guidelines and limits within which day-to-day reserve management should be conducted, and approves
changes to the strategy, limits, and any exceptions or changes to our reserve management standard. In considering changes to our reserve management strategy, limits, and any exceptions or changes to our reserve management standard, the reserve
management committee considers, among other factors, applicable regulatory requirements and supervisory guidance, the characteristics of reserve assets and their liquidity, the credit and risk profile of the issuers of reserve assets and our reserve
management partners, and diversification and concentration of reserve assets. For example, we revised our reserve management standard in March 2024 to align more closely with NYDFS guidelines and in June 2024 in consideration of MiCAR requirements.
The committee meets on at least a

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quarterly basis and as frequently as additional meetings are necessary to carry out its duties and responsibilities and as business needs arise. Within the guidelines, targets, and limits set by
our reserve management committee, our reserve management and strategy team, consisting of members from our Treasury group, manages the daily operations of Circle stablecoin reserves, with oversight by our Treasurer, including regular activities such
as allocating reserve funds, partner relationship management, and creation of reporting and monitoring tools.

Our strengths

We are building what we believe will be the largest and most widely used stablecoin network in the world. The Circle stablecoin