Company: CRCL
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001193125-25-084832
Chunk: 194

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 194
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 Circle stablecoin network play a crucial role in the emerging internet financial system. By offering Circle stablecoins on open blockchain networks and protocols, we have been able to build and become part of a broad global ecosystem of companies, products, and technologies that make up the new internet financial system. The value of the Circle stablecoin network grows as more companies and services connect into our network and infrastructure, growing the reach and utility of our network. To understand the scale and scope of our value, it is important to also understand the broader Circle stablecoin ecosystem. Altogether, thousands of companies are part of the Circle stablecoin ecosystem, providing products and technologies that integrate with the Circle stablecoin network in various ways.

| • |     | Wallets and consumer apps.  A primary way that end-users interact with                                                                                                                                         
 USDC and the Circle stablecoin network is through consumer applications and digital wallets. Collectively, these consumer applications reach hundreds of millions of end-users, and provide a primary means to 
 hold and use USDC. Examples include products from Coinbase, Robinhood, MetaMask, Mercado Libre, Nubank, Coins.ph, and GCash.                                                                                   |

| • |     | Digital Asset Exchanges.  Hundreds of digital asset exchanges around the world support the trading and                                                                                                                                              
 exchange of USDC for other digital assets and fiat currencies. USDC is one of the most actively traded digital assets in the world, and through these exchanges—which range from large global exchanges such as Coinbase, Binance, Kraken, and OKX, 
 to major regional and national exchanges—USDC is made available to hundreds of millions of retail and institutional end-users.                                                                                                                      |

| • |     | Traditional Exchanges.  While nascent, Circle is exploring use cases for USDC in traditional                                                                                                                                      
 exchange venues and clearing houses. In February 2025, we entered into a memorandum of understanding with ICE, where we agreed to explore (i) collaborating on certain market activities to promote Circle stablecoins, USYC, and |

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| related products within ICE’s trading, clearing, and data ecosystem, (ii) integrating Circle stablecoins and USYC as collateral, settlement, and co-branded exchange traded products across 
 ICE’s capital and derivative markets, and (iii) developing co-branded trading and investment products.                                                                                      |

| • |     | Custodians.  Most major corporate and institutional end-users of stablecoins seek to store and custody                                                                                                                                               
 their USDC with sophisticated