Company: CRCL
Filing Date: 2025-05-16
Form Type: S-1/A
Source: 0001193125-25-121234
Chunk: 215

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-16
Form: S-1/A
Chunk 215
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 are held in accounts with regulated financial institutions, including BlackRock and BNY,
that are titled FBO holders of USDC. Strategic partnerships such as the ones with Grab and Mercado Libre help deepen the distribution and liquidity of USDC in key markets. They also help to grow global USDC adoption more broadly. We believe our
combination of industry leadership and regulation-first approach uniquely positions us as the partner of choice for companies looking to explore and innovate with digital assets and blockchain networks. In addition, we and Coinbase established a
stablecoin ecosystem framework under which we provide incentives to distribution partners to increase the circulation of Circle stablecoins. Binance is the first approved participant under this framework that agrees to undertake marketing activities
to promote USDC on its platform. We also entered into a separate arrangement with Binance pursuant to which Binance agrees to maintain a portion of its treasury in USDC. See “Business—Collaboration with Coinbase” and
“Business—Select distribution partnerships—Arrangements with Binance” for more information on our arrangements with Coinbase and Binance.

Developer-oriented platform

As an open platform built on
blockchain networks, we enable developers around the world to build on our infrastructure and drive innovation in financial services and commerce. Our extensible and secure network, powered by open APIs, allows developers to independently build
applications that can seamlessly interact with Circle stablecoins and wallets. As of March 31, 2025, we had more than half a million Circle Wallets on our platform, enabling the development of a wide range of applications across gaming, payments,
and commerce. We also foster the developer ecosystem, with programs such as the Circle Ecosystem Grant and Circle Ventures, which provide financing and technical resources to promote developer activity.

Safety and regulatory leadership

Fundamental to our business model is
our focus on working with regulators around the world to develop and implement frameworks that will make working with and using stablecoins a safe and secure endeavor. We believe that end-user safety and the soundness of the Circle stablecoin
network are critical to our success and provide a competitive advantage within the stablecoin and broader digital assets ecosystems. Circle stablecoins are regulated as a form of stored value under laws governing money transmission in the United
States and many other countries. Circle stablecoin reserves are also regulated. We limit Circle stablecoin reserves to highly liquid financial instruments. See “—Reserve management standard.” Reserve assets are primarily held in
custody at BNY. Lastly, we have robust operational risk processes and controls, including