The cryptocurrency company, which offers fully backed digital money for rapid global payments around the clock, priced its IPO above the expected range.

Circle shares surged Thursday following an IPO valuing the company at almost $7 billion, showing that investors have an appetite to get exposure to the nascent stablecoin economy. Why it matters: The bet is that stablecoins will only get bigger once the U.

USDC stablecoin issuer Circle Internet Group made a powerful and successful public stock debut. The listing is seen as a key step for integrating stablecoins into the global financial system.