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.

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 euphoric action harkens back to the 2021 Coinbase IPO, which didn't end well for those who piled in near the high.

The New York-based company's stock touched as much as $117.45, more than triple its offer price of $31 and valuing the company at $30.5 billion on a fully diluted basis. The blockbuster listing also reinforced expectations that the IPO market was regaining its momentum after being stifled by tariff-driven volatility.

USDC issuer Circle's share price is still climbing on its second trading day as it came within pennies of quadrupling its $31 IPO price.

The stablecoin issuer’s IPO arrives as investors brace for more market headwinds and regulatory change while stablecoin demand grows.

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.

Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.

Just look at the robust demand for the initial public offering of Circle Internet Group, the leader in the world of stablecoins. The stock, which more than doubled in its first few minutes of trading before being halted three times,

While Wall Street insiders enjoyed a first day "pop," it appears Circle could have pocketed much more from its debut.

What exactly does Circle do, and why did it decide to move its headquarters from downtown Boston to lower Manhattan late last year? Here are six things to understand about the company, which manages a "stablecoin" called USDC.