Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 219

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 219
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 developers and businesses develop new products and services that excite their (and our) end-users. We are in the earliest days of Web3 innovation, and it is likely that                                     
 the most impactful of such products have yet to be invented. We play a role in nurturing and growing this ecosystem of developers. We build developer tools, run hackathons, offer developer grants, and have the capacity to invest in early-stage 
 companies and projects through Circle Ventures.                                                                                                                                                                                                     |

| • |     | Expand our licensure into major global markets.  Many major markets are establishing clear regulatory regimes                                                                                                                                           
 for payment stablecoins to be used or issued within those markets. Certain of these markets will require licenses in order to partner with local businesses or provide primary market liquidity. Today, we hold licenses covering stablecoin operations 
 in the United States, Singapore, Bermuda, the United Kingdom, and the EEA. We are exploring opportunities to apply for and procure additional licenses that may allow us to mint Circle stablecoins and offer primary liquidity in those markets.       |

| • |     | Nurture our brand and reputation.  To attract end-users, developers, businesses, and institutions to the                                                                                                                                             
 Circle stablecoin ecosystem, we must not only offer the utility and value of our network, but also ensure that our network sustains a very strong reputation. We have built our brand and reputation for a decade, in line with our values, taking a 
 regulatory-first posture as befits a firm building the new internet financial system. We make substantial investments in policy advocacy, risk management, compliance, financial control, and transparency, so that we can build trust with leading  
 businesses and institutions that are looking for a partner to build with and a stablecoin network to join, as well as regulatory bodies and policymakers.                                                                                            |

| • |     | Diversify our business and revenue in new ways.  Reserve income currently provides the majority of our                                                                                                       
 revenue. Moreover, our primary focus today is building the reach and utility, and hence the value, of the Circle stablecoin network. However, as our network grows, we expect to build new fee-based revenue 
 streams. These may include fees that monetize the movement of money across our network (driven by the velocity of money) and include subscription fees for our various Developer Services.                   |

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Competitive landscape We operate in a large and evolving market. Although our competitive landscape can evolve given the category-defining nature of our platform, our main competition today primarily consists