Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 177

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 177
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 and our strategic commercial alliance
with Binance to convert a portion of its treasury funds into USDC and promote USDC on its platform. In addition, we collaborate with leading global market makers and liquidity providers. For example, in December 2024, we entered into an agreement
with Cumberland to expand liquidity and settlement capabilities in USYC and USDC over the course of a three-year term. Although the details of each partnership differ, in these

119

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

partnerships, which have one- to four-year terms, we make payments to our partners (or
offer rebates against payments that our partners would otherwise make to us for our Web3 Services) based on the number of wallets on our partners’ platforms, the number of wallets on our partners’ platforms that transact in USDC, and/or
the amount of USDC held on our partners’ platforms. Through these partnerships, we provide our partners with certain Circle products and services and/or incentivize our partners to increase their customers’ use of USDC and the amount of
USDC on their platforms, thereby growing the USDC ecosystem and increasing USDC liquidity. We also foster the Circle stablecoin ecosystem with a range of programs, including Circle Developer Programs, which sponsor hackathons and developer events,
the Circle Alliance Program, our global partnership and alliance program, as well as worldwide industry and event sponsorships. Each of these partnerships drives awareness and growth of the Circle stablecoin network, further enhancing its network
effect. We further believe we are uniquely well positioned to attract new partners due to our and USDC’s trusted brand, regulatory-first posture, robust scalable infrastructure, and, critically, the scale and quality of other partners joining
the network.

Making blockchain technology accessible and easy to use for both developers and end-users will be key to global adoption of stablecoins and the internet financial system.Our end-user- and developer-focused services make the complexity of the underlying technological infrastructure of our platform invisible to the end-user, simplifying end-user experiences, and empowering
developers to build applications using the Circle stablecoin network. This technical simplification and end-user-focused approach is critical to internet-scale adoption of stablecoins broadly and the Circle
stablecoin network specifically. Our core technology offerings, including our blockchain infrastructure products and our Web3 Services, are core to enabling an intuitive interface for programmable money across a variety of applications