Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 35

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 35
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 Circle stablecoin network play a crucial role in the emerging internet financial system. By offering Circle stablecoins on open blockchain networks and protocols,
we have been able to build and become part of a broad global ecosystem of companies, products, and technologies that make up the new internet financial system.

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The value of the Circle stablecoin network grows as more companies and services connect into our network and infrastructure, growing the reach and utility of our network. To understand the scale and scope of our value, it is important to also understand the broader Circle stablecoin ecosystem. Altogether, thousands of companies are part of the Circle stablecoin ecosystem, providing products and technologies that integrate with the Circle stablecoin network in various ways.

| • |     | Wallets and consumer apps. A primary way that end-users interact with USDC and the Circle stablecoin network                                                                                                                                             
 is through consumer applications and digital wallets. Collectively, these consumer applications reach hundreds of millions of end-users, and provide a primary means to hold and use USDC. Examples include products from Coinbase, Robinhood, MetaMask, 
 Mercado Libre, Nubank, Coins.ph, and GCash.                                                                                                                                                                                                              |

| • |     | Traditional Exchanges. While nascent, Circle is exploring use cases for USDC in traditional                                                                                                                                                               
 exchange venues and clearing houses. In February 2025, we entered into a memorandum of understanding with ICE, where we agreed to explore (i) collaborating on certain market activities to promote Circle stablecoins, USYC, and related products within 
 ICE’s trading, clearing, and data ecosystem, (ii) integrating Circle stablecoins and USYC as collateral, settlement, and co-branded exchange traded products across ICE’s capital and derivative markets, and (iii) developing co-branded                 
 trading and investment products.                                                                                                                                                                                                                          |

| • |     | Custodians. Most major corporate and institutional end-users of stablecoins seek to store and custody their                                                                                                                                              
 USDC with sophisticated digital asset custody providers, many of whom are regulated as digital asset custody firms under various state and national regulatory and supervisory arrangements around the world. Leading digital asset custodians including 
 Anchorage Digital, BitGo, Coinbase, Fireblocks, and Copper provide robust support for USDC and the Circle stablecoin network infrastructure.                                                                                                             |

| • |     | Blockchain networks. Core blockchain network infrastructure is crucial for operating the Circle stablecoin                                                                                                                                             
 network, and through native support for 20 blockchains, we enable