Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 190

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 190
---
 infrastructure, with onboarding at settlement banks that provide the primary market liquidity infrastructure to enable us to flow funds to and from Circle Mint
customers to enable on- and off-ramping with Circle stablecoins. They provide multiple rails including 24/7/365 funds flow capabilities, wires, ACH, SEPA, and similar
regional domestic bank transfer networks as well as providing redundancy across rails. We continue to expand the network of banks that provide primary liquidity to the Circle stablecoin ecosystem.

Circle Mint

Circle Mint is our service offering that provides institutional
customers USDC- and EURC-related services, such as minting USDC and EURC, redeeming USDC and EURC for the U.S. dollar and euro, respectively, directly from us, and sending and receiving USDC and EURC to and/or from Circle Mint accounts. Circle Mint
supports international

128

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

wires and domestic bank transfers in 188 countries. Circle Mint provides customers
with a powerful user interface, advanced security, and workflow and API capabilities. As of December 31, 2024, there were 1,819 Circle Mint customers with accounts. Circle Mint is currently available only to institutions, such as exchanges,
institutional traders, wallet providers, banks, and consumer apps companies. Circle Mint is not available to individuals; as such, no individuals are Circle Mint customers. To open a Circle Mint account, a potential customer must submit an
application in which such potential customer provides us with compliance information and supporting documentation including, but not limited to, the legal entity, its operations, beneficial owners, and the intended use of the account. Potential
Circle Mint customers must pass our screening processes, including, but not limited to, ID verification, KYC checks, sanctions screening, and suitability checks (for which we consider factors such as the type of business the potential customer
engages in and the potential customer’s anticipated minting volume). Circle Mint customers are able to mint Circle stablecoins and redeem Circle stablecoins directly from us. Upon receipt of fiat funds from a Circle Mint customer’s bank
account, we mint USDC or EURC, as applicable, and deposit such stablecoins to the Circle Mint customer’s account.

Similarly, upon receipt of a redemption
request from the Circle Mint customer with respect to USDC or EURC in such customer’s account, we remove