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

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 25
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 introduces significant security and financial integrity risks. Blockchains have generally not been interoperable with each other, contributing to difficulties bridging from one chain to another. The only way for most end-users to move value across 
 blockchains has been to use a “wrapped token,” or a tokenized representation of a particular digital asset that enables it to be operable on another blockchain. Such protocols introduce undue risk and hacking opportunities into a process           
 that should otherwise be simple and hassle-free.                                                                                                                                                                                                        |

To address these issues, we launched CCTP. With CCTP, end-users can safely and cost-efficiently transfer USDC from one supported blockchain to another. CCTP is a crucial building block for application developers and ensures that USDC can be used interoperably no matter what blockchain an application or end-user is interacting with. In March 2025, we launched CCTP V2, a fast version of CCTP that accrues revenue when a customer elects the fast transfer feature. As of June 30, 2025, CCTP V2 was available on Arbitrum, Avalanche, Base, Codex, Ethereum, Linea, OP Mainnet, Polygon PoS, Solana, Sonic, Unichain, and Worldchain, with more blockchains expected to be announced throughout 2025.

10

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

CCTP works by first redeeming USDC on the source chain and then issuing USDC on the destination chain, relying on a cryptographic attestation, or receipt, to prove that the USDC has been properly redeemed before the corresponding USDC can be reissued on another blockchain. From its launch in April 2023 to June 30, 2025, CCTP has handled approximately $57.6 billion in transfers, with $32.9 billion of transfers occurring in the first six months of 2025 alone, representing a 316% increase from the first six months of 2024. CCTP is available as a public protocol through a series of smart contracts that work alongside the core USDC stablecoin protocol. While nascent, we view CCTP as an important capability and a unique differentiator that will act as a key driver of our future growth.

| • |     | Circle Gateway. In July 2025, we announced Circle Gateway, a crosschain primitive that enables a unified                                                                                                                                                  
 USDC balance for instant crosschain liquidity