Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 200

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 200
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 into the Circle stablecoin network, we touch more than 600 million users around the world as of March 31, 2025. While we do not provide direct services to individuals, (other than by redeeming USDC and EURC in our role as the
redeemer of last resort), the Circle stablecoin network is one of the most widely used on the internet—as of March 31, 2025, USDC has been used for more than $25 trillion in onchain transactions, with $5.9 trillion in onchain transactions
occurring in the first quarter of 2025 alone, representing an approximate 500% increase from the first quarter of 2024.

The Circle stablecoin network has four unique pillars.

Circle Stablecoins

At the foundation of
the Circle stablecoin network are the USDC and EURC payment stablecoins. USDC and EURC are digital currency tokens issued natively on blockchain networks and backed by reserves consisting of highly liquid, price-stable cash and cash equivalents.
USDC and EURC are redeemable on a one-for-one basis for U.S. dollars and euros, respectively, directly from us by Circle Mint customers (see “—Our platform, products, and ecosystem—Circle Liquidity Services—Circle Mint” for
information about Circle Mint, which is a service offering that is available only to institutions) as well as by end-users that are not Circle Mint customers in our role as the redeemer of last resort (see “Glossary—The issuers of Circle
stablecoins”). In addition, all end-users can sell or exchange USDC and EURC in the secondary market. USDC and EURC enable end-users to store value in a digital form and to transact over blockchain networks, allowing for near-instant
settlement, at a very low cost, with the reach of the internet. USDC and EURC are regulated as stored-value instruments under FinCEN money services businesses regulation and state money transmission laws in the United States and as electronic money
tokens in Europe.

We believe Circle stablecoins have consistently set a standard for transparency, liquidity, and technological innovation. They are exclusively
issued by Circle, and are directly obtainable through Circle Mint, which is available only to institutions (see “—Circle Mint” for information about Circle Mint). Circle stablecoins are also distributed and made widely available
through hundreds of different retail and institutional products around the world. They can also be stored in digital asset wallets without necessarily having an account directly with