Company Updates

Circle Mission & Values

Jeremy Allaire Jeremy Allaire October 1, 2020

With Circle growing fast around the world, we've seen and heard from people asking about the company's core mission and values, which in the current business and societal climate is increasingly critical for people to understand. In response to a question in an AMA hosted by Jeremy Allaire on The Money Movement, we decided to publish our detailed Mission and Values document for the public — we want all of our stakeholders, including customers, partners, employees, regulators and the broader community to understand who we are and what we stand for at Circle. The full text is below.

circle-mission

 

Our mission is to raise global economic prosperity through programmable internet commerce

Circle was founded on a belief that blockchains and digital currency will rewire the global economic system, creating a fundamentally more open, inclusive, efficient and integrated world economy. We envision a global economy where people and businesses everywhere can more freely connect and transact with each other, through a system that has the reach and accessibility of the internet and knows no borders or boundaries. We believe such a system can raise prosperity for people and companies everywhere. Breaking down our mission:

 

“To raise global economic prosperity...”

Our mission is not just to make things more efficient, or reduce costs. The mission also aims to fundamentally unleash productivity for society and the economy, to connect more people and businesses together through trade and commerce, and through this process raise global levels of economic prosperity.
 
The advent of the joint-stock corporation, and then capital markets and global banking, all created a fabric for a dramatic rise in economic prosperity over the past 150 years. Blockchains and global digital currency give us a new fabric, and a radically more powerful fabric to build upon.
 
Our customers should see us as a company that helps them grow, compete, transform and become global digital corporations, increasing prosperity for all of their stakeholders.
 
Our mission doesn’t just stop with the companies and organizations that we serve, but extends to all people who will benefit from this new form of programmable internet commerce. Improving global models of trade and commerce, integrating the world’s economic systems more deeply, and allowing for creativity to flourish in how economic arrangements take shape should bring growing prosperity to everyone in the world.
 

“...through programmable…”

What we are doing is building and rewiring the fundamental building blocks of the economy. We are trying to literally transform the very nature of money and value exchange with programmable digital currency. Blockchain gives us an economic system that is smart, connected, programmable, highly efficient, instant, global, secure and private.
 
This new architecture makes ‘money’ a native data type on the internet, and allows this new form of ‘digital money’ to be scripted, programmed, hacked and built upon by developers and creators in ways we have never imagined.
 
Public blockchains are themselves a kind of new operating system for safely transacting and entering into economic contracts and arrangements in a borderless, trustless fashion. They create building blocks for re-thinking the very nature of a corporation, how to incentivize and organize for creative output, and will ultimately allow for completely new forms of business to be built and governed entirely with software and smart contracts.
 

“...internet commerce.”

We are about commerce, about serving businesses, about improving and facilitating trade between people and businesses and between businesses themselves. The products and services that we create for businesses will help them realize new forms of internet-enabled commerce; we are starting with building blocks for converting, storing and managing digital money and payments, but the accounts that businesses open with us can ultimately express an incredible array of new ways to conduct business globally by through the programmability of digital currency and public blockchains.
 
 

Our Values: We Are Multistakeholder, Mindful, Driven by Excellence and High Integrity

 

We are Multistakeholder

As an institution, we exist in a broad stakeholder context, which means that we must organize, incentivize and measure ourselves against meeting the needs of all of our stakeholders — our customers, our shareholders, our employees and families, our local communities and our world.
 
Our Customers. Our customers are our primary stake-holder and the source of truth on how we are doing as a company. Our customer success and delight should be the primary focus for every employee in the company. Every action, every decision, and every goal needs to be evaluated in the context of the value we are creating for customers. We need to know them deeply, and relentlessly measure how we are doing with them. It’s every employee’s job to know our customers. Success for our customers also implicitly means that we are thinking about the needs of our customers’ customers, and similarly embrace our broader ecosystem of partners that help bring comprehensive value to our customers.
 
Our Shareholders. As a corporation, we exist in the context of our shareholders and our obligation to consistently drive long-term value creation. We seek a large and diverse base of shareholders, including every employee, and seek shareholders who share our value system and belief in our mission and who are patient and willing to play the long game. But we also know that the greatest source of value creation stems from a motivated, inspired and engaged employee base who are relentlessly pursuing the delight and success of our customers. Shareholders are along for the ride, and partners in our growth.
 
Our Employees and Families. No value creation exists, no product is created, no customer is made successful without employee success. Valuing our employees as stakeholders is about creating an environment where people can thrive and grow, be challenged and learn constantly. It should also be an environment that thrives on diversity, draws competitive strength from that diversity. We also view our employees’ families and personal lives as stakeholders, both financially and emotionally. We all need to support ourselves and our families, and we prioritize people finding balance so that they can enjoy the fruits of life and work.
 
Our Local Communities. We are social institutions that exist in the context of our local communities. While our customers may be global, we live and work in local communities and as an institution we must be committed to contributing to those communities, both financially as appropriate with our means, and through our time, which we prioritize making during periodic breaks from our work to volunteer.
 
Our World. As a global organization, we seek to constantly improve the state of the world through our products and customer success. We also recognize that we are moral agents and must make choices about the kind of world we want to live in. This starts with taking responsibility and agency for our role in protecting our planet and ensuring that our growth is sustainable for the planet. This continues with our making choices about the kinds of customers we will and won’t serve, whether those customers are good for the bottom line or not.
 

We are Mindful

We seek to be present and aware, to be respectful, active listeners (with each other and with our customers alike), and to pay attention to detail. We don’t rush to judgement, and when we are swept up by strong emotions we patiently observe and acknowledge them and try to not just react. Our mindfulness leads to better understanding, and more respectful, careful and deliberate choices.
 

We are Driven by Excellence

We are driven by our mission and our passion for customer success. Being driven also means that we relentlessly pursue excellence, that we do not tolerate mediocrity, that we reward based on merit, and that we work intensely to achieve our goals. Being driven doesn’t mean that we are assholes and plough over people or tolerate a culture of aggressiveness. We are a team. Part of our drive is to bring everyone along in our collective achievement.
 

We are High Integrity

We seek open and honest communication, and hold ourselves to very high moral and ethical standards. When we say we will do something, we do it. When we are having difficulty and need help, we talk about it. We treat each other and our customers with the utmost respect. We reject manipulation, dishonesty and intolerance. We welcome vulnerability and uncertainty, which needs to be listened to in order to bring people along, and helps us to constantly learn and improve. Our customers and partners implicitly experience us as high integrity, and our customer centric choices demonstrate this to them again and again.
 
—Jeremy Allaire
 
 
 
 

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