Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 125

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 125
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 continues to evolve. Our key product offerings are as follows: Circle stablecoins Core to our network are USDC and EURC, our regulated U.S. dollar- and euro-denominated stablecoins. We launched USDC in 2018, which is the world’s largest regulated payment stablecoin as measured by the amount of stablecoins in circulation. See “Prospectus summary—Stablecoin overview—Circle’s role in driving stablecoin adoption” for our use of the term “regulated” with respect to stablecoins and see “Business—Regulatory policy landscape” for the principal regulations to which we are subject. USDC makes the dollar digitally available via the internet, taking advantage of the internet’s capabilities, transparency, speed, and efficiency. In June 2022, we launched EURC utilizing the same underlying infrastructure. Stablecoins act as the bridge between the fiat and digital assets ecosystems. We believe the ability of Circle Mint customers to quickly and confidently move from fiat to Circle stablecoins is essential to the growth of the Circle stablecoin network. The volume of USDC minted and redeemed demonstrates the scale and resiliency of the banking infrastructure supporting our on-and off-rampsbetween the digital asset and fiat ecosystems. Below is a summary of USDC minted and redeemed for each of the periods presented. EURC minting and redemption was not material for the periods presented. For our calculation of USDC in circulation, see “—Key operating and financial indicators—USDC in circulation and average USDC in circulation.”

|                                                |     | Year ended December 31, |     2024 |   |     |   |     2023 |   |     |   |     2022 |   |
|:-----------------------------------------------|:----|:------------------------|---------:|:--|:----|:--|---------:|:--|:----|:--|---------:|:--|
|                                                |     | -in millions            |          |   |     |   |          |   |     |   |          |   |
| USDC in circulation, beginning of period       |     | $                       |   24,412 |   |     | $ |   44,554 |   |     | $ |   42,416 |   |
| USDC minted                                    |     |                         |  141,342 |   |     |   |   95,833 |   |     |   |  167,609 |   |