Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 182

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 182
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 enable companies and developers to build new applications that intermediate                                                                                         
 money, payments, and commerce in powerful new ways, unlocking innovation in the same way that App Stores and mobile phones unlocked innovation through new categories of apps that were never before possible. |

Blockchain networks The advent of blockchain networks reshapes how the global financial system can operate, creating significant opportunities for new innovations to flourish. The financial industry supports more than $250 trillion in annual global capital markets activity, according to SIFMA, and approximately $21.5 trillion in M2 money stock as of December 2024, according to the Federal Reserve Bank of St. Louis, reflecting an enormous market and underlying infrastructure that can be transformed by blockchain networks. Blockchain networks catalyze this change in multiple significant ways:

| • |     | Storage of value.  Blockchains are digital, relying on tamper-proof, immutable, and highly secure digital 
 records built on decentralized infrastructure, and are designed to mitigate hacks and exploits.           |

| • |     | Transmission of value.  Blockchains are built to support open, global, and interoperable transactions that can                                                                                                                               
 work with any internet-connected device in the world, offering transaction finality in seconds, with strong privacy and security and significant cost efficiency, with transactions costing as little as a fraction of a cent in many cases. |

| • |     | Tokenization of value.  Blockchains provide a foundation to represent nearly any form of property or record as                                                                                                  
 a cryptographic asset. This paves the way for the same storage and transmission efficiencies to be used with both digital and non-digital forms of property ranging from digital content items and intellectual |

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| property (e.g., artwork, or items within video game worlds), to tokens that represent stocks, bonds, exchange-traded funds, and physical property, as well as other financial contracts. |

| • |     | Programmable value.  Unlike the legacy financial system, digital assets on blockchains networks are inherently                                                                                                      
 programmable using smart contracts that can execute and intermediate transactions and value exchange with code published on the internet, introducing a myriad of opportunities for reshaping finance and commerce. |

Similar to operating systems, blockchain networks continue to evolve—with constant upgrades and competition driving improvements in performance, cost, security, and operational flexibility—much like improvements seen in constantly improving internet infrastructure over the past decades. Further, the open protocol nature of blockchain infrastructure drives faster innovation than the closed-loop incumbent financial system in which both the sender and receiver