Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 192

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 192
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 Because our stablecoin infrastructure exists entirely as public
protocols and public infrastructure itself, it can be used by

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

all users of the internet and does not require a user to interact with us directly. The
more broadly this infrastructure is used and supported, the greater the quality and reach of the Circle stablecoin network.

To this end, we build, deliver, and
operate a range of blockchain-specific software infrastructure. This blockchain infrastructure is intended to abstract away certain complexities associated with using blockchain networks, and to simplify the usage of Circle stablecoins, all while
increasing convenience and safety. Said differently, this infrastructure is important to enhancing the utility of Circle stablecoins on the internet, and therefore we work within the broader developer and blockchain ecosystem to adopt this
technology rather than directly offering these as commercial products. Our blockchain infrastructure includes open-source software, deployed smart contract protocols, and related network services that help make using Circle stablecoins safe,
efficient, and reliable.

Stablecoin protocols

We build, maintain, and
deploy a family of smart contracts that provide the core functionality of the Circle stablecoin network. These smart contracts provide a protocol for applications to easily store and transfer Circle stablecoins. Our stablecoin smart contracts are
all available as open-source software, both through public open-source libraries, and as visible source code deployed on blockchain networks.

While USDC was
initially only natively supported for the Ethereum blockchain (one of the most widely adopted for blockchain-based applications), today USDC is natively supported for 16 blockchains, with more expected in the future. Today, there is intense
competition in the industry to deliver blockchains that are attractive to application developers and end-users, with different projects competing for improved security, efficiency, privacy, and other advanced
features. In order to ensure that USDC is as widely available as possible and can be used by application developers, we continue to bring our stablecoin smart contracts and protocols to more blockchain ecosystems.

Once available as a protocol on a blockchain network, USDC can then be used by developers to provide dollar storage and settlement features in the digital asset space.
For finance, payments, and commerce activities, having a reliable and regulated payment stablecoin is a necessary component to building a thriving application and developer ecosystem.

Cross-chain transfer protocol

As blockchain applications grow and blockchain
networks compete for developers and end