Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S.

Shares of stablecoin issuer Circle spiked on Wednesday as its USDC token expands natively to another blockchain, World Chain.

Stablecoin issuer Circle Internet's shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum.

The U.S.-based issuer of one of the most popular cryptocurrencies made its debut on the New York Stock Exchange on Thursday and quickly saw its value soar amid heavy interest from crypto enthusiasts and investors.

Circle Internet Group (CRCL) said Wednesday that the underwriters of the stablecoin issuer's previously completed IPO have fully exercised their option to buy an additional 5.10M shares from Circle.

Circle priced its initial public offering (IPO) on Wednesday at $31 per share, above the expected range of $24 to $26. The company sold around 34 million shares in the offering for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.9 billion.

Circle Internet on Wednesday priced its upsized U.S. initial public offering at $31 apiece, raising $1.05 billion, adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.