Circle Internet Financial is a financial services company known for issuing USDC, a fully-reserved digital dollar currency, ensuring each USDC is backed 1:1 by cash and short-dated U.S. treasuries. The company operates under strict regulatory oversight, being licensed under state money transmission licenses and registered as a money services business (MSB) with the U.S. Department of the Treasury, adhering to KYB/AML and financial crimes compliance requirements. Unlike banks that engage in fractional reserve banking, Circle cannot lend, borrow against, or use USDC reserves for bills, maintaining transparency and consumer protection. Circle has actively engaged with regulatory bodies globally to support responsible innovation and ensure digital asset holder protection, having been a pioneer in advocating for comprehensive federal and state regulations. This rigorous oversight and commitment to safety have positioned USDC as one of the world's most regulated and trusted digital currencies, contributing to Circle's stability amidst market uncertainties.