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

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.

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.