Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 30

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 30
---
 initiative, Circle Payments Network (“CPN”), a new technology service that connects eligible financial institutions (including banks, neo-banks, payment service providers, virtual asset service providers, and digital wallets) to facilitate real-time settlement of payments, starting with cross-border payments, using regulated stablecoins such as USDC and EURC. As of August 10, 2025, we’ve launched four active payment corridors with four financial institutions actively facilitating payments. CPN is governed by a robust framework that requires participants to meet strict eligibility standards, including licensing, AML/CFT compliance, financial risk management, and cybersecurity protocols. In collaboration with our 29 design partners at launch, CPN is designed to support a broad spectrum of money movement use cases for businesses, financial institutions, and individuals—including supplier payments, remittances, payroll, capital markets settlement, internal treasury operations, and onchain financial applications. Powered by smart contract infrastructure and modular APIs, CPN will enable third-party developers to build advanced modules, app services, and automated financial workflows directly on top of CPN. To support the development of CPN, leading global financial institutions are contributing their expertise in global payments to assist us in designing CPN to ensure that it meets the needs of leading banks and financial institutions worldwide. First National Digital Currency Bank, N.A. On June 30, 2025, we submitted to the Office of the Comptroller of the Currency (“OCC”) an application on behalf of our proposed subsidiary, First National Digital Currency Bank, N.A. (“FNDCB”), to form FNDCB as a national

13

trust bank. If approved, FNDCB will operate as a federally regulated trust institution, subject to OCC oversight, and will oversee the management of the USDC reserve according to our reserve management policy. See “Business—Reserve management standard” for information regarding our standards for managing Circle stablecoin reserves. In addition, subject to regulatory approval, FNDCB is expected to offer digital asset custody services to our affiliates and, through Circle Mint, to unaffiliated institutional customers.

Arc

On August 12, 2025, we introduced Arc, an open Layer-1 blockchain purpose-built for stablecoin finance. Arc is designed to provide an enterprise-grade foundation for stablecoin payments, foreign exchange, and capital markets transactions. The EVM-compatible network features USDC as its native gas, along with an integrated stablecoin FX engine, sub-second settlement finality, and opt-in compliant privacy controls. Fully integrated across the Circle