{"id":8578,"date":"2025-09-30T17:52:13","date_gmt":"2025-09-30T15:52:13","guid":{"rendered":"https:\/\/joapen.com\/blog\/?p=8578"},"modified":"2025-10-02T22:23:10","modified_gmt":"2025-10-02T20:23:10","slug":"circle-internet-group","status":"publish","type":"post","link":"https:\/\/joapen.com\/blog\/2025\/09\/30\/circle-internet-group\/","title":{"rendered":"\u00a0Circle Internet Group"},"content":{"rendered":"\n<p>This company became public in June, and I was curious about what they do and how they make profits.<\/p>\n\n\n\n<p>They do not attend final users, they reach them through exchange markets, payment processors or specific FinTech companies. I did a map to visualize what they do. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"661\" src=\"https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-12-1024x661.png\" alt=\"\" class=\"wp-image-8579\" srcset=\"https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-12-1024x661.png 1024w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-12-300x194.png 300w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-12-768x496.png 768w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-12.png 1215w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Who are these clients?<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Category<\/th><th>Examples of Clients \/ Partners<\/th><\/tr><\/thead><tbody><tr><td><strong>Exchanges<\/strong><\/td><td>&#8211; OKX<br>&#8211; Bitstamp<br>&#8211; Nexo<br>&#8211; CoinMENA<\/td><\/tr><tr><td><strong>Payment Processors \/ Payment Service Providers \/ Merchant Acquirers<\/strong><\/td><td>&#8211; Worldpay from FIS<br>&#8211; Fiserv<br>&#8211; Corpay<br>&#8211; OpenPayd<br>&#8211; BTG Pactual (as a distribution partner)<\/td><\/tr><tr><td><strong>Fintechs \/ Digital Banks \/ Neobanks<\/strong><\/td><td>&#8211; Nubank<br>&#8211; Lemon<br>&#8211; Chipper Cash<br>&#8211; Yellow Card<br>&#8211; AZA Finance<br>&#8211; FonBnk<br>&#8211; Finger-on-Fintech type companies like OpenPayd as well <br>&#8211; MoneyGram (also partly overlaps with payments)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Circle Payments Network<\/h2>\n\n\n\n<p>This is the main capability built by the company. A visual representation about the understanding I have from it.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"488\" src=\"https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15-1024x488.png\" alt=\"\" class=\"wp-image-8588\" srcset=\"https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15-1024x488.png 1024w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15-300x143.png 300w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15-768x366.png 768w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15-1536x732.png 1536w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2025\/09\/image-15.png 1632w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The main elements are:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Element<\/th><th>Purpose<\/th><\/tr><\/thead><tbody><tr><td>USDC Stablecoin<\/td><td>Digital dollar core of the network<\/td><\/tr><tr><td>Mint &amp; Redemption Infrastructure<\/td><td>Converts fiat \u2194 USDC for institutions<\/td><\/tr><tr><td>Payments &amp; Settlement APIs<\/td><td>Accept, pay out, and manage funds in USDC\/fiat<\/td><\/tr><tr><td>On-\/Off-Ramps<\/td><td>Enable fiat entry and exit for businesses &amp; users<\/td><\/tr><tr><td>Cross-Chain Transfer Protocol (CCTP)<\/td><td>Moves USDC natively across blockchains<\/td><\/tr><tr><td>Compliance &amp; Risk Layer<\/td><td>KYC\/AML, sanctions, fraud, reserve transparency<\/td><\/tr><tr><td>Reporting &amp; Analytics<\/td><td>Dashboards, audits, transaction reporting<\/td><\/tr><tr><td>Ecosystem Partners<\/td><td>Banks, exchanges, wallets, merchants enabling access<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>This company became public in June, and I was curious about what they do and how they make profits. They do not attend final users, they reach them through exchange markets, payment processors or specific FinTech companies. I did a map to visualize what they do. Who are these clients? Category Examples of Clients \/ &#8230; <a title=\"\u00a0Circle Internet Group\" class=\"read-more\" href=\"https:\/\/joapen.com\/blog\/2025\/09\/30\/circle-internet-group\/\" aria-label=\"Read more about \u00a0Circle Internet Group\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,204],"tags":[],"class_list":["post-8578","post","type-post","status-publish","format-standard","hentry","category-finance","category-wardley-maps"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u00a0Circle Internet Group -<\/title>\n<meta name=\"description\" content=\"This company became public in June, and I was curious about what they do and how they make profits. 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