Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 41

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 41
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 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 participants; |

| • |     | general digital payments, capital markets, blockchain, and stablecoin market conditions; and |

| • |     | our brand strength relative to that of our competitors. |

If we are unable to successfully compete in our industry, our business, results of operations, financial condition, and prospects could suffer materially. Competition from new and existing issuers offering competing products, combined with the rise of yield-bearingdigital assets, including TMMFs, that are attractive to digital asset trading participants,