Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 44

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 44
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 ability to capitalize on new market opportunities.

34

We currently compete at multiple levels with a variety of competitors, including:

| • |     | payment services; |

| • |     | fiat-backed, asset-backed, digital asset-collateralized, algorithmic, non-backed and yield-bearing tokens; |

| • |     | blockchain infrastructure services; |

| • |     | digital asset safekeeping services; |

| • |     | banks and nonbank financial institutions; and |

| • |     | digital wallet providers platforms. |

In particular, we compete with and rely on traditional banks for many of the services we offer. We are subject to regulation by a variety of state and federal regulators across our products and services, and we rely on banks to provide banking services to our customers. This regulation by multiple federal, state, and local authorities increases our compliance costs, as we navigate multiple regimes with different examination schedules and processes and varying disclosure requirements. In addition, while the potential introduction of stablecoin legislation could establish a clear legal and regulatory framework, it may also lower the barriers to entry for new market participants. In particular, banks with well-established customer bases and financial infrastructures may decide to enter the stablecoin industry, which could intensify competition and cannibalize our growth opportunities. We believe that our ability to compete depends upon many factors, both within and beyond our control, including the following:

| • |     | the size, diversity, and activity levels of our end-user and customer base; |

| • |     | the timing and market acceptance of products and services, including developments and enhancements to those products and 
 services offered by us and our competitors;                                                                              |

| • |     | trust, perception, and interest in the digital asset industry and in our products and services; |

| • |     | customer service and support efforts; |

| • |     | selling and marketing efforts; |

| • |     | the ease of use, performance, price, and reliability of solutions developed either by us or our competitors; |

| • |     | changes in economic conditions and government regulation and policies; |

| • |     | our ability to successfully execute on our business plans; |

| • |     | our ability to successfully integrate new products and services with our existing ones; |

| • |     | our ability to continue to enhance our technical infrastructure and technology; |

| • |     | our ability to enter new markets; |

| • |     | our ability to maintain and grow our partnerships with other market