Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 123

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 123
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 that we introduce ourselves, third-party-developed applications add to activity on our platform.                                                                                                                                              |

| • |     | We seek to expand our footprint to new markets, encouraging global adoption of our technology and products. We do 
 so with a regulatory-first posture, obtaining appropriate licenses as needed.                                     |

These and other strategies are detailed in “Business—Our platform, products, and ecosystem” and “Business—Our growth strategy.” The way that we monetize our network has shifted over time, and continues to evolve. Our key product offerings are as follows: Circle stablecoins Core to our network are USDC and EURC, our regulated U.S. dollar- and euro-denominated stablecoins. We launched USDC in 2018, which is the world’s largest regulated payment stablecoin as measured by the amount of stablecoins in circulation. See “Prospectus summary—Overview—Stablecoin overview—Circle’s role in driving stablecoin adoption” for our use of the term “regulated” with respect to stablecoins and see “Business—Regulatory policy landscape” for the principal regulations to which we are subject. USDC makes the dollar digitally available via the internet, taking advantage of the internet’s capabilities, transparency, speed, and efficiency. In June 2022, we launched EURC utilizing the same underlying infrastructure. In July 2024, Circle Internet Financial Europe SAS became the first global stablecoin issuer to achieve compliance with MiCAR. Stablecoins act as the bridge between the fiat and digital assets ecosystems. We believe the ability of Circle Mint customers to quickly and confidently move from fiat to Circle stablecoins is essential to the growth of the Circle stablecoin network. The volume of USDC minted and redeemed demonstrates the scale and resiliency of the banking infrastructure supporting our on- and off-ramps between the digital asset and fiat ecosystems. Below is a summary of USDC minted and redeemed for each of the periods presented. EURC minting and redemption was immaterial for the periods presented. For our calculation of USDC in circulation, see “—Key operating and financial indicators—USDC in circulation and average USDC in circulation.”

| (in millions)                                  |     | 2025 | Three months ended 
           June 30, |   |     | 2024 |         |   |     | 2025 | Six months ended 
         June 30, |   |     | 2024 |         |   |     | 2024 | Year ended December 31