Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 196

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 196
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 bring more end-users onto our network, while unlocking new opportunities for developers and enterprises around the world.

For each of these
services, we monetize the usage of the infrastructure, including fees based on the number of active wallets, the number of API calls into our SCP, and the amount of fees paid using Circle Gas Station. Together, these new fees represent an important
potential long-term source of revenue for us.

The Circle stablecoin ecosystem

We are a platform, network, and market infrastructure for stablecoin and blockchain applications. Today, USDC and the Circle stablecoin network play a crucial role in
the emerging internet financial system. By offering Circle

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CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 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, Grab, Revolut, MetaMask, Mercado Libre, Nubank, and Coins.ph.                                                                           |

| • |     | 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.                                                                                                                            |

| • |     | Custodians.  Most major corporate and institutional end-users of stablecoins seek to